Barbados Helps to Prepare MNE Sector for Top-Up Tax Requirements

Junior Dottin from the Barbados Revenue Authority addresses attendees at the Top-Up Tax event.

The Barbados Revenue Authority’s Top-Up Tax experts were the main featured speakers at a joint workshop for professionals within the multinational and international business sector hosted by the Institute of Chartered Accountants of Barbados (ICAB) and the Barbados International Business Association (BIBA) at the end of May 2026.

Held at the Hilton Barbados Resort, the session came at a critical time for entities that fall within scope as they prepare to meet the first filing deadline on June 30.

The Corporation Top-Up Tax was introduced through the 2024 amendments to the Income Tax Act, rising from the global initiative to ensure that large multinational enterprises (MNEs) pay a minimum effective tax rate of 15 per cent on profits earned in the countries where they operate.

Barbados’ Revenue Commissioner Jason King makes a point during the session.

Revenue Commissioner Jason King welcomed the workshop, noting that it provides valuable support to affected businesses as they prepare their filings. He noted that the legislation applies to multinational enterprise groups with annual global revenues exceeding €750 million.

“In-scope classification is largely based on the quantum of global revenue. For multinational enterprise groups with revenues above €750 million, the requirements will apply. This area of taxation is relatively new and complex, having been introduced internationally by the Organisation for Economic Co-operation and Development (OECD) in 2022. We recognise that complexity and appreciate the importance of sessions like these in helping businesses understand and meet their obligations,” he said.

The workshop formed part of the Barbados Revenue Authority’s ongoing efforts to engage its stakeholders and support compliance with the new tax requirements.

Attendees pose questions to the Authority’s Kafeisha Francis at the Top-Up Tax event.