Gazette October 6, 2025 Part A Vol. CLX No. 103 with S.Is #96 - 101

S.I. 2025 No. 96

Duties, Taxes and Other Payments (Exemption) Act, 2023

(Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION) (MINA (BARBADOS) HOSPITALITY SRL) ORDER, 2025

The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (Mina (Barbados) Hospitality SRL) Order, 2025.
In this Order,

“projects” has the meaning assigned to it by paragraph 3(2);
“Society” means Mina (Barbados) Hospitality SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B;
“supplies” means machinery, equipment, furniture, fixtures, furnishings and fittings and other items imported or purchased out of a bonded warehouse for use in the projects, but excludes those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023 (S.I. 2023 No. 69);
“vessels” means boats, watercraft, personal motorcrafts such as yachts and catamarans, and other forms of transportation by sea.
3.(1) This Order applies in respect of the projects described in subparagraph
(2) for the periods specified in that subparagraph.
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(2) The projects and periods referred to in subparagraph (1) are:
(a)
the development and operation of a hotel located at Six Men’s and Retreat in the parish of St. Peter owned by Corsair Cove SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B, over a period of 25 years;

(b)
the renovation and operation of the property known as Port Ferdinand in the parish of St. Peter owned by Port Ferdinand SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B, over a period of 25 years;

(c)
the renovation and operation of the property known as “Palazzate”, located near Road View in the parish of St. Peter owned by Sandridge SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B, over a period of 15 years; and

(d)
the renovation and operation of 27 units at St. Peter’s Bay in the parish of St. Peter owned by St. Peter’s Bay SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B, over a period of 15 years.

The Society is exempt from the payment of withholding tax in respect of
(a)
interest paid on a loan to a resident or non-resident lender;

(b)
royalties paid to a non-resident;

(d)
fees paid to a non-resident contracted to provide management services or technical skills (design, construction, development and refurbishment) for the purposes of the projects.

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5.(1) Subject to subparagraph (2), the Society is exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
supplies;

(b)
stores of food and alcoholic and non-alcoholic beverages purchased for use in any of the projects with a restaurant on the premises;

(d)
other goods imported or purchased out of a bonded warehouse for use in the projects;

(e)
vehicles powered by alternative energy, charging stations and parts for such vehicles and stations, imported or purchased out of a bonded warehouse for use in the projects provided that the vehicles are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

(f)
vessels, and equipment, parts and other items necessary for the maintenance of such vessels, imported or purchased out of a bonded warehouse for use in the projects, provided that the vehicles and vessels are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

(g)
personal and households effects and vehicles of management staff who are contracted to work in Barbados and are not citizens or permanent residents of Barbados, provided that the items are

(i)
imported within 3 months of the arrival of the staff in Barbados; and

(ii)
not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance,

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at which time the unexpired portion of the duties and taxes are payable to the State.
(2) Subparagraph (1) applies where the Comptroller of Customs is satisfied, on a certificate from the project manager, that the supplies, stores of food and alcoholic and non-alcoholic beverages, goods, vehicles and vessels described in that subparagraph are required for exclusive use in the projects.

Fees invoiced by the Society which represent the remuneration of its employees to TropOps SRL are considered zero-rated supplies for the purpose of value added tax.
Where the Society has, in an income year, incurred expenditure for the purpose of

(a)
improving the waste-water disposal system, and the improvements meet the environmental standard set by the Minister responsible for the Environment; or

(b)
generating water, and the improvements meet the environmental standard set by the Minister responsible for Health,

in calculating the tax payable for an income year, the Society shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the fittings, pipes and pumps used in the construction of the waste-water disposal system or water-generating system for a period of 4 years.

Where the Society have, in an income year, incurred expenditure for the purpose of improving a renewable energy system, and the improvements meet the energy standard set by the Minister responsible for Energy, in calculating the tax payable for an income year, the Society shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the construction of the renewable energy system for a period of 4 years.
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Where the Society has in an income year incurred expenditure in respect of
(a)
marketing;

(b)
training;

(d)
apprenticeship; or

(e)
tourism research,

in calculating the assessable income of the Society for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.

Where the Society has in an income year incurred expenditure in relation to the projects for the purpose of acquiring Green Globe or a similar environmental certification, in calculating the assessable income of the Society for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.
11.(1) The exemptions and other concessions described in paragraphs 4 to 13 are subject to the conditions set out in subparagraph (2).
(2) The Society shall
(a)
commence the projects by the 1st day of July, 2024;

(b)
register the projects with the Minister responsible for Tourism;

(c)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

(d)
permit the Comptroller of Customs or his designate at all reasonable times to

(i) inspect the books and records; and
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(ii) have access to any premises for the purpose of examining the fittings, furniture, fixtures, equipment and other supplies which have been imported duty free and items purchased locally for use in the projects;
(e)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the exemptions and other concessions;

(f)
furnish the Minister responsible for Finance and the Revenue Commissioner with a quarterly status report of the projects, accompanied by photographs, to facilitate a proper assessment of the progress of the projects;

(g)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(h)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(3)
Where the Society fail to comply with the conditions set out in subparagraph (2) within 90 days of written notification of the default by an authority referred to in that subparagraph, the failure shall result in

(a) the exemptions and other concessions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Society.

(4)
Where an exemption or other concession is granted under this Order subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in

(a)
the exemption or concession being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State.

S.I. 2025 No. 96

This Order shall be deemed to have come into effect on the 1st day of July, 2024.
Made by the Minister this 3rd day of October, 2025.
RYAN STRAUGHN
Minister responsible for Finance

Approved by the Cabinet this 6th day of October, 2025.
SELMA GREEN
Cabinet Secretary

6th October, 2025

S.I. 2025 No. 97
Duties, Taxes and Other Payments (Exemption) Act, 2023 (Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION) (SANDRIDGE BEACH SRL) ORDER, 2025
The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (Sandridge Beach SRL) Order, 2025.
In this Order,

“project” means the refurbishment of 4 units known as “Palazzate” situate at Little Battlaleys in the parish of Saint Peter;
“Society” means Sandridge Beach SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B;
“supplies” means construction materials, machinery, equipment, furniture, fixtures, furnishings and fittings imported or purchased out of a bonded warehouse for use in the project, but does not include those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023
(S.I. 2023 No. 69).

This Order applies in respect of the project for a period of 15 years commencing on the 1st day of July, 2024 and concluding on the 30th day of June, 2039.
S.I. 2025 No. 97
The Society is exempt from the payment of
(a)
withholding tax in respect of

(i)
interest paid to a person in respect of a loan made to the Society for the purposes of the project;

(ii)
royalties paid to a non-resident; and

(iii) fees paid to a non-resident contracted to provide management services or technical skills (design, construction, development and refurbishment) for the purposes of the project;

(b)
property transfer tax in respect of the initial sale of a unit, provided that the purchaser of the unit is not a director or shareholder of the Society; and

5.(1) Subject to subparagraph (3), the Society is exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
supplies;

(b)
goods and services purchased locally for use in the project;

(d)
furniture, fittings, furnishings and fixtures imported or purchased locally to outfit a unit, where the items are imported or purchased locally no later than 6 months from the initial sale of the unit;

(e)
personal and households effects and vehicles of management staff who are contracted to work in Barbados and are not citizens or permanent residents of Barbados, provided that the items are

(i) imported within 6 months of the arrival of the staff in Barbados; and
S.I. 2025 No. 97
(ii) not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance.
(2)
Subject to subparagraph (3), the purchaser in the initial sale of a unit is exempt from the payment of import duty, excise tax and value added tax in respect of furniture, fittings, furnishings and fixtures imported or purchased locally to outfit the unit where the items are imported or purchased no later than 6 months from the sale of the unit.

(3)
Subparagraphs (1)(a) to (d) and (2) apply where the Comptroller of Customs is satisfied, on a certificate from the project manager, that the supplies, goods, furniture, fittings, furnishings and fixtures are required for exclusive use in the project.

(4)
Management staff who are employed by the Society to work in Barbados and are not citizens or permanent residents of Barbados are exempt from the payment of import duty, excise tax and value added tax in respect of personal and household effects and vehicles provided that the items are

(a)
imported within 6 months of the arrival of the staff in Barbados; and

(b)
not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance.

The Society shall notify the Minister of the reassignment of concessionary benefits to a new purchaser where the Society sells the project or property, or sells shareholding to a third party or where there is a change in the beneficial ownership of the Society of more than 10 per cent.
7.(1) The exemptions described in paragraphs 4 and 5 are subject to the conditions set out in subparagraph (2).
(2) The Society shall
(a) commence the project by the 1st day of July, 2024;
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(b)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

(i)
inspect the books and records; and

(ii)
have access to any premises for the purpose of examining the fittings, furniture, fixtures, equipment and other supplies which have been imported duty free and items purchased locally for use in the project;

(d)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the concessions;

(e)
furnish the Minister responsible for Finance and the Revenue Commissioner with a quarterly status report of the project, accompanied by photographs, to facilitate a proper assessment of the progress of the project;

(f)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(g)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(3)
Where the Society fails to comply with the conditions set out in subparagraph (2) within 90 days of written notification of the default by an authority referred to in that subparagraph, the failure shall result in

(a) the exemptions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Society.

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(4) Where an exemption described in paragraph 4 or 5 is granted subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in
(a)
the exemption being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State.

This Order shall be deemed to have come into effect on the 1st day of July, 2024.
Made by the Minister this 3rd day of October, 2025.
RYAN STRAUGHN
Minister responsible for Finance

Approved by the Cabinet this 6th day of October, 2025.
SELMA GREEN
Cabinet Secretary

6th October, 2025

S.I. 2025 No. 98
Duties, Taxes and Other Payments (Exemption) Act, 2023 (Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION) (ST. PETER’S BAY SRL) ORDER, 2025
The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (St. Peter’s Bay SRL) Order, 2025.
In this Order,

“project” means the refurbishment of 27 condominium units situate at St. Peter’s Bay in the parish of Saint Peter;
“Society” means St. Peter’s Bay SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B;
“supplies” means construction materials, machinery, equipment, furniture, fixtures, furnishings and fittings imported or purchased out of a bonded warehouse for use in the project, but does not include those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023
(S.I. 2023 No. 69).

This Order applies in respect of the project for a period of 15 years commencing on the 1st day of July, 2024 and concluding on the 30th day of June, 2039.
S.I. 2025 No. 98
4.(1) Subject to subparagraph (3), the Society is exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
furniture, fittings, furnishings and fixtures imported or purchased locally to outfit a unit, where the items are imported or purchased locally no later than 6 months from the initial sale of the unit; and

(b)
other supplies for use in the project.

(2)
Subject to subparagraph (3), the purchaser in the initial sale of a unit is exempt from the payment of import duty, excise tax and value added tax in respect of furniture, fittings, furnishings and fixtures imported or purchased locally to outfit the unit where the items are imported or purchased no later than 6 months from the sale of the unit.

(3)
Subparagraphs (1) and (2) apply where the Comptroller of Customs is satisfied, on a certificate from the project manager, that the furniture, fittings, furnishings and fixtures and other supplies and items are required for exclusive use in the project.

The Society shall notify the Minister of the reassignment of concessionary benefits to a new purchaser where the Society sells the project or property, or sells shareholding to a third party or where there is a change in the beneficial ownership of the Society of more than 10 per cent.
6.(1) The exemptions described in paragraph 4 are subject to the conditions set out in subparagraph (2).
(2) The Society shall
(a)
commence the project by the 1st day of July, 2024;

(b)
register the project with the Minister responsible for Tourism;

(c)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

S.I. 2025 No. 98
(d)
permit the Comptroller of Customs or his designate at all reasonable times to

(i)
inspect the books and records; and

(e)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the concessions;

(f)
furnish the Minister responsible for Finance and the Revenue Commissioner with a quarterly status report of the project, accompanied by photographs, to facilitate a proper assessment of the progress of the project;

(g)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(h)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(a) the exemptions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Society.

(4)
Where an exemption described in paragraph 4 is granted subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in

(a) the exemption being withdrawn; and
S.I. 2025 No. 98
(b) any duties and taxes waived becoming payable to the State.

This Order shall be deemed to have come into effect on the 1st day of July, 2024.
Made by the Minister this 3rd day of October, 2025.
RYAN STRAUGHN
Minister responsible for Finance

Approved by the Cabinet this 6th day of October, 2025.
SELMA GREEN
Cabinet Secretary

6th October, 2025

S.I. 2025 No. 99
Duties, Taxes and Other Payments (Exemption) Act, 2023 (Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION) (TROPOPS SRL) ORDER, 2025
The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (TropOps SRL) Order, 2025.
In this Order,

“projects” has the meaning assigned to it by paragraph 3(2);
“Society” means TropOps SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B;
“supplies” means machinery, equipment, furniture, fixtures, furnishings and fittings and other items imported or purchased out of a bonded warehouse for use in the projects, but excludes those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023 (S.I. 2023 No. 69);
“vessels” means boats, watercraft, personal motorcrafts such as yachts and catamarans, and other forms of transportation by sea.
3.(1) This Order applies in respect of the projects described in subparagraph
(2) for the periods specified in that subparagraph.
S.I. 2025 No. 99
(2) The projects and periods referred to in subparagraph (1) are:
(a)
the development and operation of a hotel located at Six Men’s and Retreat in the parish of St. Peter owned by Corsair Cove SRL, a society organised under the Societies With Restricted Liability Act, Cap. 318B, over a period of 25 years;

The Society is exempt from the payment of withholding tax in respect of
(a)
royalties paid to a non-resident; and

(b)
fees paid to a non-resident contracted to provide management services or technical skills (design, construction, development and refurbishment) for the purposes of the projects.

5.(1) Subject to subparagraph (2), the Society is exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
supplies;

(b)
stores of food and alcoholic and non-alcoholic beverages purchased for use in any of the projects with a restaurant on the premises;

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(c)
goods and services purchased locally for use in the projects;

(d)
other goods imported or purchased out of a bonded warehouse for use in the projects;

(g)
personal and households effects and vehicles of management staff who are contracted to work in Barbados and are not citizens or permanent residents of Barbados, provided that the items are

(i)
imported within 3 months of the arrival of the staff in Barbados; and

(ii)
not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State.

(2) Subparagraph (1)(a) to (f) apply where the Comptroller of Customs is satisfied, on a certificate from the project manager, that the supplies, stores of food and alcoholic and non-alcoholic beverages, goods, vehicles and vessels described in that subparagraph are required for exclusive use in the projects.
S.I. 2025 No. 99

Where the Society has, in an income year, incurred expenditure for the purpose of
(a)
improving the waste-water disposal system, and the improvements meet the environmental standard set by the Minister responsible for the Environment; or

(b)
generating water, and the improvements meet the environmental standard set by the Minister responsible for Health,

Where the Society have, in an income year, incurred expenditure for the purpose of improving a renewable energy system, and the improvements meet the energy standard set by the Minister responsible for Energy, in calculating the tax payable for an income year, the Society shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the construction of the renewable energy system for a period of 4 years.
Where the Society has in an income year incurred expenditure in respect of

(a)
marketing;

(b)
training;

(d)
apprenticeship; or

(e)
tourism research,

in calculating the assessable income of the Society for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.
S.I. 2025 No. 99

Where the Society has in an income year incurred expenditure in relation to the projects for the purpose of acquiring Green Globe or a similar environmental certification, in calculating the assessable income of the Society for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.
10.(1) The exemptions and other concessions described in paragraphs 4 to 13 are subject to the conditions set out in subparagraph (2).
(2) The Society shall
(a)
commence the projects by the 1st day of July, 2024;

(b)
register the projects with the Minister responsible for Tourism;

(c)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

(d)
permit the Comptroller of Customs or his designate at all reasonable times to

(i)
inspect the books and records; and

(e)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the exemptions and other concessions;

S.I. 2025 No. 99
(g)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(h)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(a) the exemptions and other concessions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Society.

(4)
Where an exemption or other concession is granted under this Order subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in

(a)
the exemption or concession being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State.

This Order shall be deemed to have come into effect on the 1st day of July, 2024.
S.I. 2025 No. 99
Made by the Minister this 3rd day of October, 2025.
RYAN STRAUGHN Minister responsible for Finance
Approved by the Cabinet this 6th day of October, 2025.
SELMA GREEN Cabinet Secretary

6th October, 2025

S.I. 2025 No. 100
Duties, Taxes and Other Payments (Exemption) Act, 2023 (Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION)
(CBL DEVELOPMENTS SRL AND GT DEVELOPMENT SRL) ORDER,
2025

The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (CBL Developments SRL and GT Development SRL) Order, 2025.
In this Order,
“project” means the construction, development and operation of

(a)
a hotel, villas and condominiums and ancillary buildings situate at Paradise Beach in the parish of Saint Michael; and

(b)
laundry facilities to service CBL Developments SRL and any other resort associated with the CBL Development SRL over the duration of the project;

“Societies” means
(a)
CBL Developments SRL; and

(b)
GT Development SRL,

societies organised under the Societies With Restricted Liability Act, Cap. 318B;
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“supplies” means construction materials, machinery, equipment, furniture, fixtures, furnishings, fittings, décor, accessories and any other items imported or purchased out of a bonded warehouse for use in the project, but excludes those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023 (S.I. 2023 No. 69);
“unit” means a condominium or villa that forms part of the project;
“vessels” means boats, watercraft and other forms of transportation by sea.

This Order applies in respect of the project for a period of 25 years commencing on the 1st day of August, 2025 and concluding on the 31st day of July, 2050, unless another period is stated.
The Societies are exempt from the payment of

(a)
withholding tax in respect of

(i)
interest paid to a person in respect of a loan made to the Societies for the purposes of the project;

(ii)
royalties paid to a non-resident;

(iii) fees paid to a non-resident contracted to provide services or technical skills (design, construction, development and refurbishment) for the purposes of the project;
(iv)
payments made to other non-resident contractors;

(v)
payments made to non-resident directors; and

(vi)
dividends paid to a shareholder; and section 65(4) and (4A) of the Income Tax Act, Cap. 73 shall not apply;

(b)
property transfer tax in respect of the initial sale of a unit, provided that the purchaser of the unit is not a director or shareholder of the Societies; and

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(c)
import duty, excise tax and value added tax in respect of

(i)
supplies imported or purchased for the exclusive use of the project, where the Comptroller of Customs on a certificate from the project manager is satisfied that the items being imported or purchased out of a bonded warehouse directly relate to the exclusive construction of the project; and

(vi)
purchases of furniture, fittings, furnishings and fixtures by developers or purchasers of the unit where the items are imported or purchased within 6 months of the sale of the unit to the initial purchaser; and

(d)
land tax on the improved value of the land for a period of 25 years.

5.(1) Subject to subparagraph (4), the Societies are exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
supplies;

(b)
stores of food and alcoholic and non-alcoholic beverages purchased for use in the project in relation to the operation of a restaurant or other eatery or a bar;

(d)
other goods imported or purchased out of a bonded warehouse for use in the project;

(e)
vehicles powered by alternative energy, charging stations and parts for such vehicles and stations, imported for use in the project provided that the vehicles are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

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(f)
other vehicles and vessels, and equipment, parts and other items necessary for the maintenance of such vehicles and vessels, imported or purchased locally for use in the project, provided that the vehicles and vessels are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

(g)
furniture, fittings, furnishings and fixtures imported or purchased locally to outfit a unit, where the items are imported or purchased locally no later than 6 months from the initial sale of the unit;

(h)
personal and households effects and vehicles of management staff who are contracted to work in Barbados and are not citizens or permanent residents of Barbados, provided that the items are

(i)
imported within 6 months of the arrival of the staff in Barbados; and

(ii)
not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance.

(2)
Subject to subparagraph (4), the purchaser in the initial sale of a unit is exempt from the payment of import duty, excise tax and value added tax in respect of furniture, fittings, furnishings, fixtures, décor, accessories and any other items imported or purchased locally to outfit the unit where the items are imported or purchased no later than 6 months from the sale of the unit.

(3)
Subject to subparagraph (5), a purchaser of a unit is exempt from the payment of import duty and value added tax in respect of the importation of one yacht or catamaran, and equipment, spare parts and other items necessary for the maintenance of the yacht or catamaran, provided that the yacht or catamaran is not sold or otherwise disposed of within 3 years of importation.

(4)
Subparagraphs (1)(a) to (g) and (2) apply where the Comptroller of Customs is satisfied, on a certificate from the project manager, that the supplies, stores of food and alcoholic and non-alcoholic beverages, goods, vehicles and

S.I. 2025 No. 100
vessels described in those subparagraphs are required for exclusive use in the project.
(5)
The prohibition against the sale of a yacht or catamaran in subparagraph

(3)
does not apply where the sale is to another person who owns or purchases a unit.

(6)
Subparagraph (3) does not apply where the purchaser of the unit is a director or shareholder of the Societies.

(7)
Where a purchaser of a unit who received an exemption under subparagraph (3) sells the yacht or catamaran in contravention of that subparagraph, the duties and taxes become payable to the State.

6.(1) Employees who are employed by the Societies to work in Barbados and are not citizens or permanent residents of Barbados are exempt from the payment of
(a)
income tax on salary, where such employees spend an aggregate of 6 months or less in a calendar year in Barbados; and

(b)
contributions under the National Insurance and Social Security Act, Cap. 47.

(2)
Employees who are not citizens or permanent residents of Barbados and are employed by a non-resident entity to work in Barbados in connection with the project are exempt from the payment of import duty, excise tax and value added tax in respect of personal and household effects imported within 2 months of arrival in Barbados.

(3)
Subparagraph (2)(a) applies to a dependant of an employee described in that subparagraph as it applies to the employee, provided that the dependant is not a citizen or permanent resident of Barbados.

S.I. 2025 No. 100
7.(1) Subject to subparagraph (2), where the Societies
(a)
secure a loan from a private sector lending institution for the purposes of constructing or refurbishing and upgrading a hotel, unit, restaurant, shopping plaza or retail store; and

(b)
have in an income year incurred expenditure in relation to the construction or refurbishing and upgrading,

in calculating the assessable income of the Societies for an income year, there shall be deducted an amount equal to 150 per cent of the interest paid on the loan in the income year.
(2)
In this paragraph “private sector lending institution” has the meaning assigned to it by section 20 of the Tourism Development Act, Cap. 341.

8.(1) In calculating the tax payable by the Societies for an income year, the Societies shall be eligible for an investment tax credit that is equal to 30 per cent of the initial expenditure incurred in respect of any plant and equipment purchased for use in the refurbishing, upgrading and construction of an attraction where the cost of the plant and equipment exceeds $100 000.

(2)
The investment tax credit referred to in subparagraph (1) shall be available for set off against the tax payable; and where the excess exceeds the tax payable, the excess shall be carried forward for a period of 25 years.

(3)
In this paragraph “attraction” has the meaning assigned to it by section 2 of the Tourism Development Act, Cap. 341.

9.(1) Where the Societies, in an income year,
(a)
have incurred expenditure for the purpose of providing accommodation or a facility for guests for reward; and

(b)
incur approved expenditure in the amount of $200 000 000,

in calculating the assessable income of the Societies for an income year, there shall be deducted or set off against income arising or accruing to the Societies
S.I. 2025 No. 100
the approved capital expenditure over a period of 25 years commencing in the income year in which the expenditure is incurred.
(2) In this paragraph “approved capital expenditure” means capital expenditure incurred in respect of the project.

Where the Societies have, in an income year, incurred expenditure for the purpose of
(a)
improving the waste-water disposal system, and the improvements meet the environmental standard set by the Minister responsible for the Environment; or

(b)
generating water, and the improvements meet the environmental standard set by the Minister responsible for Health,

in calculating the tax payable for an income year, the Societies shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the fittings, pipes and pumps used in the construction of the waste-water disposal system or water-generating system for a period of 4 years.

Where the Societies have, in an income year, incurred expenditure for the purpose of improving a renewable energy system, and the improvements meet the energy standard set by the Minister responsible for Energy, in calculating the tax payable for an income year, the Societies shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the construction of the renewable energy system for a period of 4 years.
Where the Societies have in an income year incurred expenditure in respect of

(a)
marketing;

(b)
training;

(d)
apprenticeship; or

S.I. 2025 No. 100
(e) tourism research,
in calculating the assessable income of the Societies for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.

Where the Societies have in an income year incurred expenditure in relation to the project for the purpose of acquiring Green Globe or a similar environmental certification, in calculating the assessable income of the Societies for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.
The Societies shall notify the Minister of the reassignment of concessionary benefits to a new purchaser where the Societies sell the project or property, or sell shareholding to a third party or where there is a change in the beneficial ownership of the Societies of more than 10 per cent.

15.(1) The exemptions and other concessions described in paragraphs 4 to 13 are subject to the conditions set out in subparagraph (2).
(2) The Societies shall
(a)
commence the project by the 1st day of August, 2025;

(b)
register the project with the Minister responsible for Tourism;

(c)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

(d)
permit the Comptroller of Customs or his designate at all reasonable times to

(i)
inspect the books and records; and

S.I. 2025 No. 100
(e)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the exemptions and other concessions;

(g)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(h)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(3)
Where the Societies fail to comply with the conditions set out in subparagraph (2) within 90 days of written notification of the default by an authority referred to in that subparagraph, the failure shall result in

(a) the exemptions and other concessions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Societies.

(4)
Where an exemption or other concession is granted under this Order subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in

(a)
the exemption or concession being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State.

This Order shall be deemed to have come into effect on the 1st day of August, 2025.
S.I. 2025 No. 100
Made by the Minister this 3rd day of October, 2025.
RYAN STRAUGHN Minister responsible for Finance
Approved by the Cabinet this 6th day of October, 2025.
SELMA GREEN Cabinet Secretary

6th October, 2025

S.I. 2025 No. 101
Duties, Taxes and Other Payments (Exemption) Act, 2023 (Act 2023–14)

DUTIES, TAXES AND OTHER PAYMENTS (EXEMPTION) (CORSAIR COVE SRL AND PORT FERDINAND SRL) ORDER, 2025
The Minister, in exercise of the powers conferred on him by section 4 of the Duties, Taxes and Other Payments (Exemption) Act, 2023, with the approval of the Cabinet, makes the following Order:

This Order may be cited as the Duties, Taxes and Other Payments (Exemption) (Corsair Cove SRL and Port Ferdinand SRL) Order, 2025.
In this Order, “project” means

(a)
the purchase of the property formerly known as Nikki Beach situate at Six Men’s and Retreat in the parish of St. Peter, and the refurbishment, construction, development and operation of a hotel and condominiums at the property; and

(b)
the renovation, construction, development and operation of villas and condominiums at the property known as Port Ferdinand Marina and Luxury Residences situate at Six Men’s and Retreat in the parish of St. Peter;

“Societies” means
(a)
Corsair Cove SRL; and

(b)
Port Ferdinand SRL,

S.I. 2025 No. 101
societies organised under the Societies With Restricted Liability Act, Cap. 318B;
“supplies” means construction materials, machinery, equipment, furniture, fixtures, furnishings and fittings imported or purchased out of a bonded warehouse for use in the project, but excludes those items which are on the List of Commodities Ineligible for Conditional Duty Exemptions set out in Parts I and II of the Customs Tariff (Amendment) Order, 2023
(S.I. 2023 No. 69); “unit” means a condominium or villa that forms part of the project; “vessels” means boats, watercraft and other forms of transportation by sea.

This Order applies in respect of the project for a period of 25 years commencing on the 1st day of April, 2025 and concluding on the 31st day of March, 2050, unless another period is stated.
The Societies are exempt from the payment of

(a) withholding tax in respect of
(i)
interest paid to a person in respect of a loan made to the Societies for the purposes of the project;

(ii)
royalties paid to a non-resident;

(v)
payments made to non-resident directors; and

(vi)
dividends paid to a shareholder; and section 65(4) and (4A) of the Income Tax Act, Cap. 73 shall not apply;

S.I. 2025 No. 101
(b)
property transfer tax in respect of the initial sale of a unit or berth, provided that the purchaser of the unit or berth is not a director or shareholder of the Societies; and

5.(1) Subject to subparagraph (4), the Societies are exempt from the payment of import duty, excise tax and value added tax, as the case may be, in respect of
(a)
supplies;

(b)
stores of food and alcoholic and non-alcoholic beverages purchased for use in the project in relation to the operation of a restaurant or other eatery or a bar;

(d)
other goods imported or purchased out of a bonded warehouse for use in the project;

(e)
vehicles powered by alternative energy, charging stations and parts for such vehicles and stations, imported or purchased out of a bonded warehouse for use in the project provided that the vehicles are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

(f)
other vehicles and vessels, and equipment, parts and other items necessary for the maintenance of such vehicles and vessels, required for use in the project, provided that the vehicles and vessels are not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance, at which time the unexpired portion of the duties and taxes are payable to the State;

S.I. 2025 No. 101
(h) personal and households effects and vehicles of management staff who are contracted to work in Barbados and are not citizens or permanent residents of Barbados, provided that the items are
(i)
imported within 6 months of the arrival of the staff in Barbados; and

(ii)
not sold or otherwise disposed of within 3 years of importation without the prior approval of the Minister responsible for Finance.

(2)
Subject to subparagraph (4), the purchaser in the initial sale of a unit is exempt from the payment of import duty, excise tax and value added tax in respect of furniture, fittings, furnishings and fixtures imported or purchased locally to outfit the unit where the items are imported or purchased no later than 6 months from the sale of the unit.

(5)
The prohibition against the sale of a yacht or catamaran in subparagraph

(3)
does not apply where the sale is to another person who owns or purchases a unit.

(6)
Subparagraph (3) does not apply where the purchaser of the unit is a director or shareholder of the Societies.

(7)
Where a purchaser of a unit who received an exemption under subparagraph (3) sells the yacht or catamaran in contravention of that subparagraph, the duties and taxes become payable to the State.

S.I. 2025 No. 101
6.(1) Employees who are employed by the Societies to work in Barbados and are not citizens or permanent residents of Barbados are exempt from the payment of
(a)
income tax on salary, where such employees spend an aggregate of 6 months or less in a calendar year in Barbados; and

(b)
contributions under the National Insurance and Social Security Act, Cap. 47.

7.(1) Subject to subparagraph (2), where the Societies
(a)
secure a loan from a private sector lending institution for the purposes of constructing or refurbishing and upgrading a hotel, unit, restaurant, shopping plaza or retail store; and

(b)
have in an income year incurred expenditure in relation to the construction or refurbishing and upgrading,

in calculating the assessable income of the Societies for an income year, there shall be deducted an amount equal to 150 per cent of the interest paid on the loan in the income year.
(2) Subparagraph (1) applies where
(a) the project has a value of not less than $1 750 000; and
S.I. 2025 No. 101
(b) the portion of the loan on which the deduction is granted does not exceed $7 500 000 in respect of any hotel, unit, restaurant, shopping plaza or retail store to be constructed or refurbished and upgraded.
(3)
A Society shall not use more than 50 per cent of a loan for which an interest rate subsidy is provided to refinance an existing loan.

(4)
The property in respect of which a loan referred to in subparagraph (3) is made shall meet the standard approved by the Registrar of Tourism Services as a pre-condition for the interest rate subsidy.

(5)
In this paragraph “private sector lending institution” has the meaning assigned to it by section 20 of the Tourism Development Act, Cap. 341.

(3)
In this paragraph “attraction” has the meaning assigned to it by section 2 of the Tourism Development Act, Cap. 341.

9.(1) Where the Societies, in an income year,
(a)
have incurred expenditure for the purpose of providing accommodation or a facility for guests for reward; and

(b)
incur approved expenditure in the amount of $200 000 000,

in calculating the assessable income of the Societies for an income year, there shall be deducted or set off against income arising or accruing to the Societies the approved capital expenditure over a period of 25 years commencing in the income year in which the expenditure is incurred.
S.I. 2025 No. 101
(2) In this paragraph “approved capital expenditure” means capital expenditure incurred in respect of the project.

Where the Societies have, in an income year, incurred expenditure for the purpose of
(a)
improving the waste-water disposal system, and the improvements meet the environmental standard set by the Minister responsible for the Environment; or

(b)
generating water, and the improvements meet the environmental standard set by the Minister responsible for Health,

Where the Societies have, in an income year, incurred expenditure for the purpose of improving a renewable energy system, and the improvements meet the energy standard set by the Minister responsible for Energy, in calculating the tax payable for an income year, the Societies shall receive an investment tax credit that is equal to 150 per cent of the capital cost of the construction of the renewable energy system for a period of 4 years.
Where the Societies have in an income year incurred expenditure in respect of

(a)
marketing;

(b)
training;

(d)
apprenticeship; or

(e)
tourism research,

in calculating the assessable income of the Societies for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.

Where the Societies have in an income year incurred expenditure in relation to the project for the purpose of acquiring Green Globe or a similar environmental certification, in calculating the assessable income of the Societies for the income year, there shall be deducted an amount equal to 150 per cent of the expenditure incurred.
The Societies shall notify the Minister of the reassignment of concessionary benefits to a new purchaser where the Societies sell the project or property, or sell shareholding to a third party or where there is a change in the beneficial ownership of the Societies of more than 10 per cent.

(b)
register the project with the Minister responsible for Tourism;

(c)
keep books and records in such form and containing such particulars as may be required by the Comptroller of Customs and the Revenue Commissioner;

(d)
permit the Comptroller of Customs or his designate at all reasonable times to

(i)
inspect the books and records; and

(e)
provide such reports to the Revenue Commissioner as are required to facilitate monitoring of the status of the exemptions and other concessions;

(g)
participate in the Balance of Payment Surveys of the Central Bank of Barbados; and

(h)
participate in any business surveys conducted by the Barbados Statistical Service and the Minister responsible for Labour.

(a) the exemptions and other concessions being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State, provided that the default is solely and fully attributable to the Societies.

(4)
Where an exemption or other concession is granted under this Order subject to a condition other than one set out in subparagraph (2), breach of the condition shall result in

(a)
the exemption or concession being withdrawn; and

(b)
any duties and taxes waived becoming payable to the State.

16. This Order shall be deemed to have come into effect on the 1st day of July, 2024.

Made by the Minister this 3rd day of October, 2025.

RYAN STRAUGHN

Minister responsible for Finance

Approved by the Cabinet this 6th day of October, 2025.

SELMA GREEN

Cabinet Secretary

Printed and Published by
the Barbados Government Printing Department

Gazette October 6, 2025 Part A Vol. CLX No. 103 with S.Is #96 – 101

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