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It was established on 1 April 2011 under the Financial Services Commission Act 2010 which replaced the former Securities Commission, Supervisor of Insurance, and the Co-operatives Department. [2] It contains 4 regulatory divisions: The insurance division, the credit union division, the securities division, and the pensions division.
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.
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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 ...
This is a list of countries by tariff rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Import duty refers to taxes levied on imported goods, capital and services. The level of customs duties is a direct indicator of the openness of an economy to world trade.
The Central Bank of Barbados (CBB) is the national monetary authority and central bank responsible for providing advice to the Government of Barbados on banking and other financial and monetary matters. The Central Bank of Barbados, was established by Act of parliament on 2 May 1972. [2]
Barbados Constitution (Third Amendment) Act, 1992. [9] 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 ...
The Barbados government encourages the development in: financial services, informatics, e-commerce, tourism, educational and health services, and cultural services for the future. In 2000 based on Barbados' level of growth – (at the time) Barbados was supposed to become the world's smallest developed country by 2008.