Updated 2026-10-21. Originally published for the week of 2026-04-28.
Advisory only — verify with a licensed CPA in the relevant jurisdiction before acting on anything financial or legal.
No new BRA policy notes have been published since the 2026 Budgetary Proposals of 16 March 2026.
Barbados
1. Personal Income Tax Rate Cut — Income Year 2026
The two personal income tax bands remain reduced by 1 percentage point, effective for the current income year:
| Band | Old Rate | New Rate |
|---|---|---|
| $25,001 – $75,000 BBD | 12.5% | 11.5% |
| Over $75,000 BBD | 28.5% | 27.5% |
Source: BRA Policy Note — Reduction of Personal Income Tax Rates (re-verified 2026-10-21).
What this means: the 11.5% and 27.5% rates apply for the current income year. Any documentation or comparison chart still citing 12.5%/28.5% is out of date.
2. Compensatory Income Credit (CIC) — Income Ceiling $50,000 BBD
Effective Income Year 2025, the CIC eligibility ceiling rose from $35,000 to $50,000 BBD. The maximum refundable credit is $2,875 for Income Year 2026 (down from $3,125 for Income Year 2025, because the lower tax rate reduces the credit base).
Source: BRA Policy Note — CIC Increase in Income Limit (re-verified 2026-10-21).
What this means: Barbados-source income between $25,001 and $50,000 BBD now qualifies for a cash refund. A PIT return must be filed to claim it.
3. Still Active: 3,000+ Taxpayers Must Refile 2025 PIT Returns
The BRA advisory remains published: anyone who filed a 2025 Barbados PIT return before March 27, 2026 must refile, because the earlier form did not include the expanded CIC thresholds or revised income bands from the 16 March 2026 Budgetary Proposals. BRA removes those returns. Third-party data (employer PAYE, pension income) may also be incomplete — verify before refiling.
Source: BRA — Advises Early Filers to Refile 2025 Tax Returns Following PIT Update (re-verified 2026-10-21).
Action: If a Barbados 2025 PIT return was filed before March 27, 2026, check the TAMIS account — it may need to be refiled. BRA: +1 (246) 429-3829.
United States
One Big Beautiful Bill Act — 2026 Figures
All figures below were confirmed against the IRS OBBB provisions page on 2026-10-21.
2026 Standard Deductions: $32,200 (MFJ) | $16,100 (Single / MFS) | $24,150 (HoH)
2026 Marginal Brackets (Single):
| Rate | Up to |
|---|---|
| 10% | $12,400 |
| 12% | $50,400 |
| 22% | $105,700 |
| 24% | $201,775 |
| 32% | $256,225 |
| 35% | $640,600 |
| 37% | over $640,600 |
Notable for retirement planning:
- Senior deduction (2025–2028): an additional $6,000 per eligible person age 65+ ($12,000 for qualifying couples), phasing out above $75,000 MAGI.
- Estate exclusion: $15,000,000 for 2026 (up from $13,990,000 in 2025).
- Trump Accounts: $1,000 federal seed per eligible child; up to $5,000/year individual contributions; treated like a traditional IRA after age 18. Available from 4 July 2026.
Source: IRS — OBBB Provisions: Individuals & Workers (re-verified 2026-10-21).
What this means: the senior deduction is the most material change for people approaching retirement, and the higher estate exclusion moves the point at which estate planning becomes urgent out to $15,000,000.
Antigua & Barbuda
The IRD site (ird.gov.ag) was unreachable during the April pass and resolved successfully on 2026-10-21. Findings:
- No personal income tax — unchanged since abolition in 2016.
- The IRD administers the Tax Administration and Procedures Act No. 12 of 2018 (TAPA).
- No new policy or rate announcements surfaced on the landing pages reviewed.
Sources fetched 2026-10-21 UTC. Verify with a licensed CPA in Barbados and/or the United States before acting on any of the above.
