In accordance with Section 18 of the Exempt Insurance Act, Cap. 308A of the Laws of Barbados, exempt insurance companies were not required to file Corporation Tax returns but rather, submit audited financial statements. However, effective January 1st 2019, the Exempt Insurance Act, Cap. 308A was repealed. Notwithstanding this, entities registered under that Act and grandfathered were allowed to continue rights and privileges until June 30th, 2021.
Exempt insurance companies are required to register with the Authority and file Corporation Tax returns.