Monday 24 September, 2018

Bye-bye Road Tax for private and commercial vehicles

Persons waiting in line at Barbados Licensing Authority in The Pine.

Persons waiting in line at Barbados Licensing Authority in The Pine.

There's a new Sheriff in town and it's the fuel tax.

The Ministry of Transport, Works and Maintenance has advised the public that, as of tomorrow, Sunday, July 1, 2018, Road Tax for private and commercial vehicles will be abolished and replaced with a fuel tax.

This is in agreement with the policy proposed in the mini-budget laid in parliament.

Additionally, commercial vehicles will pay an annual registration fee - the sum of which is 50% of the existing Road Tax.

Transfer of ownership fees

Where there is any change in ownership of a vehicle, be it by sale; gift; deed; will or any other form of disposition, the said vehicle must be registered with the Barbados Licensing Authority and the prescribed fees paid.  For private vehicles, the prescribed fee is Four Hundred Dollars ($400.00) and for commercial vehicles, the prescribed fee is One Thousand Dollars ($1,000.00).

The abolished Road Tax has no impact on vehicular insurance. The Ministry reminded vehicle owners in a press statement that they must continue to insure their vehicles in accordance with the law.

Upon renewal of insurance for vehicles, owners must present proof of payment of Insurance to the Barbados Revenue Authority (B.R.A). The locations of the (B.R.A) Offices are Holetown; Warrens; Weymouth; Treasury Department; the Pine and Oistins.