Barbados Prime Minister Presents 2024 Budget Statement

The Barbadian Prime Minister March 19 posted online the 2024 budget statement delivered on March 18. The statement describes measures to: 1) introduce a 4.5 percent Intellectual Property Special Tax for the patent box; 2) introduce a 25 percent nonrefundable tax credit for green- and ocean-related projects, from April 1; 3) provide a 50 percent refundable tax credit for zero-emissions projects, from April 1; 4) provide a 50 percent tax credit for the construction of laboratories, to support public health, from April 1; 5) introduce a 50 percent tax credit for centers offering artificial intelligence (AI), coding, robotics, and digital ...