Barbados Lower House Considers Bill to Temporarily Reduce VAT on Electricity Supplied to Domestic Premises

The Barbadian House of Assembly Feb. 6 accepted for consideration a bill to reduce VAT rates on electricity supplied to domestic premises during a temporary reduction period of Aug. 1, 2022, to Sept. 30, 2023. The bill includes measures to: 1) reduce the VAT rate to 7.5 percent from 17.5 percent on the first 250 kilowatt hours of electricity supplied to domestic premises during the temporary reduction period; 2) maintain the standard 17.5 percent VAT rate on electricity supplied in excess of 250 kilowatt hours; and 3) require payment by VAT registrants at the time of supply. [Barbados, The Barbados ...