Tax Administration

The authority for the waiver of Import Duty and Excise Tax by the Minister of Finance to the respective technical and support staff at the Caribbean Development Bank on the purchase of vehicles lies within the Section 50J of the Headquarters Agreement between the Bank and the Government of Barbados.

The respective waiver of Environmental Levy and VAT are granted in accordance with the following:

- Environmental Levy- Item I, Part IIA of the Schedule of Duties, Taxes and Other Payments (Exemption) (No. 22) Order, 1997 (S.I 1997 No. 12);

- Zero Rating- Paragraph 1 of the Third Schedule to the Value Added Tax Act 1996-15.

Application letters must be forwarded by the Bank, on behalf of the staff member, and must contain the following details:

- The status and eligibility of the staff member;
- The date of recruitment;
- The date of the last concession;
- Any other relevant details.

The decision of the Minister of Finance is formally communicated to the applicant.

CONDITIONS

Vehicles are required to be held for the following respective periods by staff members:

- Technical Staff - 3 years
- Support Staff- 5 years

A copy of the relevant registration document pertaining to the vehicle must be submitted to the Ministry of Finance within five (5) working days of the vehicle being registered with the Barbados Licensing Authority.

Where the vehicle is sold or otherwise disposed of before the expiration of the required time, the unexpired portion of the duties and taxes shall become payable to the Comptroller of Customs unless waived by the Minister responsible for Finance.