Secretariat TPR |
WT/TPR/S/308 |
S-IV§95 |
Barbados |
2014 |
Measures |
Tax concessions |
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Relevant information
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Under the Special Development Areas Act, developers involved in constructing, renovating or refurbishing buildings related to certain tourism activities in specific areas of the country are eligible for exemption from certain taxes. Tax exemptions relate to the payment of import duties, the environmental levy and VAT on inputs for building works. Investors making loans for such projects are also exempt from income tax on the interest received.
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Keywords
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Government TPR |
WT/TPR/G/308 |
G-VIII§6 |
Barbados |
2014 |
Sectors |
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Energy |
Relevant information
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In its effort to reduce its fuel import bill, Government is committed to the construction of a waste to energy facility. Given Government’s commitment to a clean and sustainable environment, this investment is seen as one which will assist in reducing much of the country’s solid waste, while generating a significant portion of the island’s power requirements.
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Keywords
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Waste
Energy
Clean
Sustainable
Environment
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Government TPR |
WT/TPR/G/308 |
G-VIII§7 |
Barbados |
2014 |
Sectors |
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Energy |
Relevant information
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It is expected that the waste to energy project will assist Barbados in reaching its target of replacing 29% of its oil based electricity by the generation of renewable and alternative energy.
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Keywords
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Secretariat TPR |
WT/TPR/S/308 |
S-III§126 |
Barbados |
2014 |
Trade Policy Framework |
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Relevant information
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The Innovation Fund (IF) invests in commercially viable innovative projects in a wide range of sectors including: environmental and waste management; cultural activities; information technology; energy conservation; tourism product innovation/diversification; and non-traditional agriculture/agro-business. Beneficiaries can receive between BDS$25,000 and BDS$250,000 in equity funding from the IF. No security is required to access IF funding. No monthly interest or annual dividend payments are required if common shares are purchased. However, annual dividend payments ranging from 8% to 10% are requested if preferred shares are purchased. IF usually invests for 5 to 7 year periods, with the possibility of extending the investment period to 10 years. The IF had approved 14 grants for a total of BDS$3.69 million as at 31 December 2013; approvals reached BDS$2.23 million at the same date.
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Keywords
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Environment
Waste
Energy
Conservation
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Government TPR |
WT/TPR/G/308 |
G-VIII§8 |
Barbados |
2014 |
Sectors |
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Energy |
Relevant information
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Government is also granting incentives to encourage the use of solar and photovoltaic systems in both commercial and residential sectors in its efforts to reduce the high fuel import bill of the country.
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Keywords
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Government TPR |
WT/TPR/G/308 |
G-VIII§9 |
Barbados |
2014 |
Sectors |
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Energy |
Relevant information
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The Government is committed to introducing clean energy technologies and energy conservation techniques thereby minimizing its dependence on fossil fuel.
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Keywords
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Clean
Energy
Conservation
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Secretariat TPR |
WT/TPR/S/308 |
S-III§125 |
Barbados |
2014 |
Measures |
Grants and direct payments, Loans and financing |
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Relevant information
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The EGFL (Enterprise Growth Fund Ltd.) also manages the Energy Smart Fund which provides grants and loans to Barbadian businesses that invest in viable Energy Efficient (EE) and Renewable Energy (RE) projects and solutions. The Fund also provides grants to households through selected retailers to encourage the adoption of EE technologies. Each beneficiary can receive BDS$40,000 for technical assistance, to be used only for pre-investment studies. The maximum loan size is BDS$1.5 million per applicant. Priority for funding is given to Barbados-owned businesses incorporated under the Companies Act that meet the following criteria: gross sales/revenues not exceeding BDS$5 million per year; stated or paid-up capital not exceeding BDS$2 million; over 50% of shares must be Barbados-owned; and applicants must not be controlled by another business whose reserves and/or capital or non-Barbados ownership exceed the criteria above. The interest rate is currently 3.75% per annum on the reducing balance, with a maximum repayment period of 10 years. Loans approved under the Fund totalled BDS$5.44 million as at 31 December 2013; however only BDS$656,000 had been disbursed at that date.
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Keywords
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Government TPR |
WT/TPR/G/308 |
G-VIII§12 |
Barbados |
2014 |
Trade Policy Framework |
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Relevant information
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The goal of the Project is to improve water resources management in Barbados and sustainable water and wastewater service provision by the Barbados Water Authority (BWA). The Project will support the Government’s efforts to modernize the institutional setting of the water and sanitation sector; improve water production infrastructure and the efficiency of the operations of BWA by reducing unaccounted-for-water and implementing adequate cost recovery mechanisms.
[The Project refers to paragraph 8.11. "Government has also secured an IDB loan to facilitate a Water and Sanitation System Upgrade in Barbados in the amount of US$50,000,000."]
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Keywords
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Secretariat TPR |
WT/TPR/S/308 |
S-Summary§7 |
Barbados |
2014 |
Trade Policy Framework |
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Relevant information
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Barbados is an active player in the WTO, and a supporter of the multilateral trading system. During the period under review, Barbados has continued to actively advocate the particular vulnerability of small economies to price and supply fluctuations, higher fixed costs of production and marketing, and to natural disasters. Barbados sees the WTO as providing a multilateral rules-based framework for the conduct of all trade.
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Keywords
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Secretariat TPR |
WT/TPR/S/308 |
S-II§8 |
Barbados |
2014 |
Trade Policy Framework |
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Relevant information
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During the period under review, Barbados continued to advocate actively in international fora, including the WTO, the particular vulnerability of small economies to price and supply fluctuations, higher fixed costs of production and marketing, and susceptibility to natural disasters.
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Keywords
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