Barbados vs Finland
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
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๐ง๐ง Barbados โ Parish Councils & Land Tax
Barbados's 11 parishes have parish councils that levy land tax at 0.1%โ0.7% of site value. Barbados has long been a significant international business and financial centre, particularly for Canadian companies. Major tax reform in 2019 aligned Barbados with OECD BEPS standards. A tiered corporate tax rate structure was introduced. Barbados was removed from the EU tax haven blacklist following these reforms and maintains competitiveness as an IFC.
๐ซ๐ฎ Finland โ Municipal Income Tax
Finland's 309 municipalities set their own income tax rates (municipal tax) ranging from ~16.5% to ~22.5%, averaging ~20%. This is added to the national progressive income tax. The church tax of 1%โ2.2% applies to members. No regional income tax. The 'solidarity tax' on high earners (2%) applies nationally. Municipalities also levy real estate tax on property owners. The welfare state is heavily funded by these high combined tax rates.
Barbados vs Finland: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ซ๐ฎ Finland has a higher top income tax rate (12.5โ28.5% vs ~44โ51.4%). ๐ง๐ง Barbados is more favourable for high earners.
๐ VAT/Sales Tax: Finland has a higher consumption tax (17.5% vs 10โ25.5%).
๐ข Corporate Tax: ๐ง๐ง Barbados offers a lower corporate rate (9% vs 20%), which can influence business location decisions.
๐ Capital Gains: ๐ง๐ง Barbados taxes investment gains at a lower rate (0% vs 34%), benefiting investors.