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Barbados announces sweeping overhaul of tourism incentive legislation
Published on August 21, 2014 Email To Friend    Print Version

BRIDGETOWN, Barbados -- Barbados has announced a comprehensive and permanent overhaul of its tourism incentive legislation, which seeks to treat tourism as an export industry. The disclosure came from minister of finance Christopher Sinckler on Friday.

Minister of Finance and Economic Affairs, Christopher Sinckler
“What we are going to do for hoteliers in Barbados, for tourism operators, is not a transient waving of the pen or signing of a document by the minister of finance under 67 (b) of the Income Tax Act,” Sinckler noted.

“The concessions which Sandals got, all the others will get but they will get it permanently, in permanent legislation that they call on each and every time they require it rather than having to write the minister of finance every other time they’re doing upgrades to a property to get it,” he continued.

The legislation, which the minister indicated would resemble the menu of concessions offered to Sandals, would therefore allow for tax relief of up to 40 years on tourism inputs, including food and beverage imports. According to the finance minister, the new legislation will be published shortly.

The Barbadian minister of finance is of the view that the new legislation his government is championing will transform the industry in an unprecedented manner.
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