International companies are still signing on for business in Barbados in spite of the implementation of a 15 % global minimum tax rate.
This is according to Executive Director of the Barbados International Business Association Carmel Haynes who says only a handful of companies have indicated their intention to seek business elsewhere.
This additional tax rate only applies to businesses earning the equivalent of over 1.59 Billion Barbados dollars annually.
Meanwhile, businesses who do not meet the threshold will continue to pay the 9 % tax rate announced last year, while registered small businesses will pay 5%.
Ms. Haynes says next year will be a better gauge to look at the impact of the tax change, as that is when everyone should make the change to include the 15 % tax.
