A progressive tax rate is a system where the percentage of tax paid increases as the income or wealth of the taxpayer increases, while a regressive tax system is one where the percentage of tax paid decreases as the income or wealth of the taxpayer increases. A progressive tax system is often designed to achieve greater income equality and reduce …

The Barbados government has released a draft population policy that aims to address the country’s declining population growth rate and its consequences, such as a decrease in the workforce and government revenues due to an aging population. The policy outlines three goals: to promote a sufficient population size, to provide opportunities for personal development, and to promote integrated settlement development. …

The International Monetary Fund (IMF) is a global organization that provides financial assistance to member countries facing economic challenges. The IMF aims to promote international monetary cooperation and stability, facilitate the balanced growth of international trade, and provide resources to assist member countries in need. The policies and programs of the IMF often have a significant impact on the economies …

Barbados, like many other countries, is faced with the challenge of balancing the need for revenue generation with the need for an equitable tax system. One potential solution that has been proposed is raising VAT and lowering income tax. In this blog article, we explore the potential impact of such reforms on the Barbadian economy and society, with a particular …