The Social Security Rate For Employees in Barbados stands at 11.10 percent. source: Ministry of Finance

Social Security Rate For Employees in Barbados averaged 10.27 percent from 2009 until 2020, reaching an all time high of 11.10 percent in 2019 and a record low of 10.10 percent in 2010. This page provides the latest reported value for - Barbados Social Security Rate For Companies - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Barbados Social Security Rate For Companies - values, historical data and charts - was last updated on December of 2020.

Social Security Rate For Employees in Barbados is expected to reach 10.10 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Barbados Social Security Rate For Companies is projected to trend around 10.10 percent in 2021 and 11.10 percent in 2022, according to our econometric models.

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Barbados Social Security Rate For Companies

Actual Previous Highest Lowest Dates Unit Frequency
11.10 11.10 11.10 10.10 2009 - 2020 percent Yearly

Barbados Taxes Last Previous Highest Lowest Unit
Personal Income Tax Rate 40.00 40.00 40.00 33.50 percent [+]
Corporate Tax Rate 5.50 5.50 30.00 5.50 percent [+]
Sales Tax Rate 17.50 17.50 17.50 15.00 percent [+]
Social Security Rate 23.85 23.85 23.85 21.35 percent [+]
Social Security Rate For Companies 12.75 12.75 12.75 11.25 percent [+]
Social Security Rate For Employees 11.10 11.10 11.10 10.10 percent [+]


Barbados Social Security Rate For Companies
In Barbados, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Barbados because they help to pay for many social programs including welfare, health care and many other benefits.