The 2012 worldwide VAT, GST and sales tax guide

A ZERBAIJAN – BARBADOS 47
VAT on imports must be calculated and collected by customs
authorities at the time of importation.
Penalties
Late submission of return. Late submission of a VAT return is
subject to a financial sanction in an amount of AZN 40.
Tax underpayment or evasion. If the VAT amount indicated on a
VAT return is understated or VAT payable to the state budget is
evaded by failure to submit the VAT return, the taxpayer is subject
to a fine equal to 50% of that understated or evaded tax (except
for an additional tax amount calculated through a desk tax audit;
a desk tax audit is conducted distantly by the tax authorities on the
basis of documents provided by a taxpayer or third-party information,
without visiting the premises of the taxpayer).
Barbados
(Country code 1 )
Bridgetown GMT -4
Ernst & Young
Mail address:
P.O. Box 261
Bridgetown
Barbados
Street address:
Worthing
Christ Church
Barbados
Indirect tax contacts
Rhyna Franklin +1 (246) 430-3819
Email: rhyna.franklin@bb.ey.com
Terry-Ann Moe +1 (246) 430-3903
Email: terry-ann.moe@bb.ey.com
A. At a glance
Name of the tax
Value-added tax (VAT)
Date introduced 1 January 1997
European Union (EU)
member state
No
Administered by
Customs and Excise Department
Value-Added Tax Division
3rd Floor
Weymouth Corporate Centre
Roebuck Street
St. Michael
Barbados
VAT rates
Standard 17.5%
Reduced 8.75%
Other
Zero-rated (0%) and exempt
VAT number format 2XXXXXXX-X (9 digits)
VAT return periods Bimonthly and monthly
Thresholds
Registration
BDS$80,000