Barbados Home Caribbean Barbados Tax Pages Rental Income Tax Barbados More BB × Barbados Financial Overview Overview Market in Depth Rental Yields Income Tax et al Tax Example Taxes if Resident Buying Guide Landlord and Tenant Property Inheritance Country Statistics Property Investments Where to Buy Survey of Barbados Christ Church Saint George Saint John Saint Peter Key Contacts Accountants Lawyers Real Estate Agents Mortgages Income tax on rent, worked example, in Barbados December 02, 2016 Non-resident couple´s rental income1 Monthly Rental Income2 €1,500 €6,000 €12,000 Annual Rental Income 18,000 72,000 144,000 Less Withholding tax3 25% 4,500 18,000 36,000 Less Expenses4 25% 4,500 18,000 36,000 = Taxable Income 9,000 36,000 72,000 Income Tax5 Flat rate 15% 1,350 5,400 10,800 Annual Income Tax Due 1,350 5,400 10,800 Tax Due as % of Gross Income 7.50% 7.50% 7.50% Notes 1 The property is jointly owned by husband and wife. 2 Exchange rate used: 1.00 US$ = 2.00 BBD 3 Rental income earned by nonresidents is subject to 25% withholding tax. The withholding tax is credited against the taxpayer´s final income tax liability. 4 Estimated values. Income-generating expenses are deductible when calculating taxable income. 5Rental income earned by nonresident individuals is taxed at a flat rate of 15%. Comments Be the first to comment on this article! Login or Register to submit a comment! In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.