Venezuela vs Barbados
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country โ side by side.
๐ป๐ช Venezuela โ Municipal & State Taxes
Venezuela's 23 states and Caracas Capital District have constitutionally defined taxing powers. States levy taxes on minerals, hydrocarbons (petrรณleo royalties), and salinas. Municipalities levy the Impuesto sobre Actividades Econรณmicas (IAE) โ a gross receipts tax โ at 0.5%โ10% on businesses, varying dramatically by municipality. The SENIAT (tax authority) administers national taxes. Hyperinflation (2017โ2021) destroyed the bolรญvar and most formal taxation. Dollarization and new strong bolรญvar (VES) partially stabilized the system. Significant informal economy.
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.
Venezuela vs Barbados: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ป๐ช Venezuela has a higher top income tax rate (6โ34% vs 12.5โ28.5%). ๐ง๐ง Barbados is more favourable for high earners.
๐ VAT/Sales Tax: Barbados has a higher consumption tax (16% vs 17.5%).
๐ข Corporate Tax: ๐ง๐ง Barbados offers a lower corporate rate (9% vs 34%), which can influence business location decisions.
๐ Capital Gains: ๐ง๐ง Barbados taxes investment gains at a lower rate (0% vs 34%), benefiting investors.