Updates
What changed in the official data for Barbados, the day it changed
Every new figure that reaches the calculators is logged here: what changed, when it takes effect and where it came from.
- Latest change
- Source review
- Every day
- Sources we follow
- Barbados Revenue Authority, National Insurance and Social Security Service (NISSS), Labour Department, Ministry of Labour, Social Security and Third Sector and 5 more
How it stays current
An agency publishes
A regulation, an index or an exchange rate comes out in the official source.
Checked before use
Indexes and exchange rates arrive automatically, with range checks. Rules are loaded with the official document in hand.
The calculators update
The calculators switch to the new figure, and the change is logged here with its source.
Published, coming into force soon
Official values already loaded that take effect in the coming days.
NIS insurable earnings ceiling for monthly paid workersBds$5,450
NIS insurable earnings ceiling for weekly paid workersBds$1,258
Change log
Follow via RSS- Rule
Income tax rates cut to 11.5% and 27.5% for 2026
From income year 2026 the lower income tax rate falls from 12.5% to 11.5% and the higher rate from 28.5% to 27.5%. The personal allowance stays at $25,000 and the lower band still covers the first $50,000 of taxable income. Our salary and income tax calculators use the new rates.
Used byBarbados salary calculator 2026Income tax calculator Barbados 2026
- Rule
Corrected land tax bands for homes valued above $450,000
The BRA and the Ministry of Finance confirmed the residential land tax bands for 2026-2027: nothing on the first $400,000 of improved value, 0.1% up to $550,000, 0.7% up to $950,000 and 1% above that. Bills for homes valued above $450,000 were reissued on August 31, 2026. Our land tax calculator uses these bands.
- Rule
NIS earnings ceiling rises to $5,450 a month in 2027
From January 1, 2027 the insurable earnings ceiling goes up from $5,360 to $5,450 for monthly paid workers, and from $1,238 to $1,258 for weekly paid workers from January 4, 2027. Contribution rates do not change. Our salary, NIS and employer cost calculators switch to the new ceiling on those dates.
Used byBarbados salary calculator 2026NIS contribution calculator 2026Employer cost calculator Barbados 2026
- New figure
Minimum notice from a monthly paid employee1 month
- New figure
Minimum notice from the employee (weekly or fortnightly paid)2 values
- New figure
Foreign Exchange Fee on purchases of foreign currency2%
- New figure
Minimum notice from the employer, fortnightly paid4 values
- New figure
Minimum notice from the employer, monthly paid3 values
- New figure
Minimum notice from the employer, hourly, daily or weekly paid5 values
- New figure
Overtime rate for shop assistants (multiple of ordinary rate)1.5
- New figure
Highest NIS pension as a share of average annual insurable earnings60%
- New figure
Contributions needed for an NIS pension (paid or credited)500
- New figure
NIS pension accrual for each contribution year after 20 (new basis)1.25%
- New figure
NIS pension accrual for each of the first 20 contribution years (new basis)2%
- New figure
Property transfer tax rate2.5%
- New figure
Pay for a public holiday or day off worked by a shop assistant (multiple of ordinary rate)2
- New figure
Continuous employment needed for severance104 weeks
- New figure
Weeks of basic pay per complete year of employment3 values
- Review
We checked 21 figures against the official source
The values in force were confirmed with Barbados Revenue Authority, Barbados Revenue Authority and Ministry of Finance, Central Bank of Barbados and National Insurance and Social Security Service (NISSS).
See the 21 figures
- Compensatory Income Credit: highest annual income that qualifiesBds$50,000In force from 1 January 2025 · Barbados Revenue Authority
- Compensatory Income Credit: largest credit for the income yearBds$2,875In force from 1 January 2026 · Barbados Revenue Authority
- Income tax rates on taxable income (income year)table with 2 bracketsIn force from 1 January 2026 · Barbados Revenue Authority
- Land tax on non-residential property and vacant land4 valuesIn force from 1 April 2026 · Barbados Revenue Authority
- Land tax on residential property (improved value)table with 4 bracketsIn force from 1 April 2026 · Barbados Revenue Authority and Ministry of Finance
- Longest sickness benefit in one continuous period of illness26 weeksIn force from 1 January 2019 · National Insurance and Social Security Service (NISSS)
- Longest unemployment benefit in a continuous period26 weeksIn force from 1 January 2019 · National Insurance and Social Security Service (NISSS)
- NIS contribution, employee share (private sector, class R)11%In force from 1 April 2025 · National Insurance and Social Security Service (NISSS)
- NIS contribution, employer share (private sector, class R)12.75%In force from 1 April 2025 · National Insurance and Social Security Service (NISSS)
- NIS insurable earnings ceiling for monthly paid workersBds$5,360In force from 1 January 2026 · National Insurance and Social Security Service (NISSS)
- NIS insurable earnings ceiling for weekly paid workersBds$1,238In force from 5 January 2026 · National Insurance and Social Security Service (NISSS)
- NIS maternity benefit (share of average insurable weekly earnings)100%In force from 1 January 2019 · National Insurance and Social Security Service (NISSS)
- NIS paternity benefit (share of average insurable weekly earnings)100%In force from 1 June 2025 · National Insurance and Social Security Service (NISSS)
- NIS pensionable age67 yearsIn force from 1 January 2018 · National Insurance and Social Security Service (NISSS)
- NIS sickness benefit (share of average insurable weekly earnings)66.6667%In force from 1 January 2019 · National Insurance and Social Security Service (NISSS)
- NIS unemployment benefit (share of average insurable weekly earnings)60%In force from 1 January 2019 · National Insurance and Social Security Service (NISSS)
- Official exchange rate, Barbados dollars per US dollarBds$2In force from 5 July 1975 · Central Bank of Barbados
- Personal allowance (resident individual)Bds$25,000In force from 1 January 2026 · Barbados Revenue Authority
- Resilience and Regeneration Fund, employee0.25%In force from 1 April 2025 · National Insurance and Social Security Service (NISSS)
- Resilience and Regeneration Fund, employer0.25%In force from 1 April 2025 · National Insurance and Social Security Service (NISSS)
- Weeks of NIS paternity benefit3 weeksIn force from 1 June 2025 · National Insurance and Social Security Service (NISSS)
- Automatic
Retail Price Index, point-to-point change in the All Items Index1.6%