A qualifying insurance company will receive the
same benefits that an exempt insurance company
receives, but will get the additional benefits as
follows:
- While the exempt insurance company is not
subject to tax, a qualifying insurance company
is subject to tax. However, Barbados has a tax
credit system and based on the level of premium
originating outside of CARICOM, it can reduce
the tax payable on general insurance business
to 2.8% of taxable income and on life insurance
business to 0.35% of gross investment income.
- Full access to Barbados tax treaties.