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Barbados Tax Information

17.5% VAT

VAT is 17.5%. Registration required above BBD 200,000 turnover. BRA registration required.

Accountant Services to Invoice

  • Bookkeeping
  • Tax preparation
  • Financial statements
  • Payroll services
  • Tax planning
  • Audit support
  • Advisory

Invoice Requirements in Barbados

TIN number
VAT registration
Client TIN
Invoice number
VAT (17.5%)
Total in BBD

Payment Terms

Monthly bookkeeping billed monthly. Tax prep: 50% upfront, 50% on completion.

CashNet 14Net 30EOM

Payment Methods in Barbados

Bank TransferFirst CaribbeanRepublic BankCredit CardCash

Accountant Invoice Tips

  • Reference service period
  • Detail returns prepared
  • Include software fees
  • Note complexity factors
  • Reference engagement letter

Frequently Asked Questions

What tax rate applies to accountant invoices in Barbados?

Barbados has 17.5% VAT. VAT is 17.5%. Registration required above BBD 200,000 turnover. BRA registration required.

What payment methods are common for accountants in Barbados?

Common payment methods in Barbados include: Bank Transfer, First Caribbean, Republic Bank, Credit Card, Cash. Monthly bookkeeping billed monthly. Tax prep: 50% upfront, 50% on completion.

What should accountant invoices include in Barbados?

Your invoice should include: TIN number, VAT registration, Client TIN, Invoice number. For accountant services specifically, also include: Bookkeeping, Tax preparation, Financial statements.

How do accountants price tax preparation?

Based on complexity: forms, schedules, and documentation required.

Should accountants charge for questions?

Include reasonable questions. Track time for extensive consultations.

What is Barbados' VAT rate?

Barbados applies 17.5% VAT on most goods and services. Reduced rate of 7.5% for hotel accommodation. Zero-rated for exports.