Upward onward: Bajan excellence 2030
Global Minimum Corporate Tax
Measure announced
The Prime Minister indicated that she would not be addressing the Global Minimum Corporate Tax at this time, as the
Government was deep in consultations and there was still "much evolving on both sides of the Atlantic". She indicated that
she would likely come back to the country within six months on this issue.
Our view: In February 2023 the Organisation for Economic Cooperation and Development (OECD) released the final guidance
for governments on how to bring the new global minimum corporate tax (known as Pillar 2) into their domestic tax legislation.
Many countries have started the process of amending their domestic tax legislation to implement the changes and it will be
necessary to assess the consistency and coordination of the adoption process by other governments. There are many issues
that have to be addressed in order to develop a suitable framework for Barbados and we hope that it will not be overly
complex and that Barbados can still remain an attractive location for global international businesses.
PwC | 2023/24 Budget review | Barbados
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