Barbados’ Corporation Top-up Tax Act, enacted in 2024, introduced a Domestic Minimum Top-Up Tax (DMTT) in line with OECD Pillar Two requirements. Qualifying entities are required to notify the Barbados Revenue Authority of their status within 12 months after the end of the first fiscal year in which they qualify. Many entities have already reached, or are nearing, this deadline.
The EY Tax Alert outlines which entities are affected, the information required for the initial filing, applicable penalties, and practical steps businesses can take while awaiting guidance on the filing mechanism.
Click here to read the full EY Tax Alert
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