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The Fair Trading Commission (FTC) is a Barbadian independent government agency under the Ministry of Energy and Business Development.It is responsible for competition policy, trade practices, formulating fair trade policy, laws, regulations and investigating activities restricting competition, such as monopolies, mergers, collusions, and other unfair trade practices on the part of enterprises.
Barbados Constitution (Fourth Amendment) Act, 1995 (No. 2 of 1995) [10] - Inserts a new section 112A on remuneration of public officers and soldiers which provides that the salaries and allowances payable to the holders of offices established under the Civil Establishment Act and the Defence Act shall not be altered to their disadvantage.
It also provides other functions such as revenue and cashiering for the Barbados Licensing Authority and the Customs Department respectively. It was established on April 1, 2014, by the Barbados Revenue Authority Act, 2014-1 [ 2 ] as a merger between Inland Revenue and Land Tax Departments and the Value Added Tax (VAT) & Excise Divisions of the ...
The level of customs duties is a direct indicator of the openness of an economy to world trade. However, there may also be import barriers that are not based on the levy of duties. The following table shows the tariff rate, in percentages, according to United Nations Conference on Trade and Development (UNCTAD) , [ 1 ] World Trade Organization ...
National firms often lobby their own governments to enact regulations that are designed to keep out foreign firms, and modern trade deals are one way to do away with such regulations. [7] The barriers can take many forms, including the following: Tariffs; Non-tariff barriers to trade include: Import licenses; Export control / licenses; Import ...
The government has been chosen by elections since 1961 elections, when Barbados achieved full self-governance.Before then, the government was a Crown colony consisting of either colonial administration solely (such as the Executive Council), or a mixture of colonial rule and a partially elected assembly, such as the Legislative Council.
The Parliament of Barbados is the national legislature of Barbados.It is accorded legislative supremacy by Chapter V of the Constitution of Barbados. [1] The Parliament is bicameral in composition [2] and is formally made up of two houses, an appointed Senate (Upper house) and an elected House of Assembly (Lower house), as well as the President of Barbados who is indirectly elected by both.
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