The Barbados Revenue Authority was established on April 1, 2014, as a statutory corporation, subsequent to the merger of Barbados' various tax collecting agencies, including the Inland Revenue and Land Tax Departments, the Value Added Tax (VAT) and Excise Divisions of the Customs and Excise Department. In addition, the Authority is responsible for the revenue collection functions of the Barbados Licensing Authority.The Authority is responsible for effective and efficient tax administration in a fair open and transparent manner fostering a high degree of voluntary compliance.