Barbados Continues to Expand its Treaty Network.
Barbados continues to make steady progress in its efforts to expand its double taxation treaty network, improve its ability to facilitate the reciprocal exchange of tax information, and strengthen the country's standing as a preferred location for treaty based business.
Recently, Barbados completed the ratification processes for its Double Taxation Agreements (DTAs) with Luxembourg and Spain, which were signed on December 1, 2009 and 2010 respectively.
Barbados currently has double taxation treaties in force with 27 countries. The treaty with Spain will come into effect on October 14, 2011 and the provisions of treaties with Luxembourg and Panama will take effect on January 1, 2012. Treaties with another two countries - Ghana and Portugal - are awaiting ratification by the respective treaty partners.
Barbados also recently initialed Tax Information Exchange Agreements (TIEAs) with Nordic Council member Denmark and its dependencies Greenland and the Faroe Islands.
Commenting on the initialing of the TIEA with Nordic Council member Denmark and its dependencies Greenland and the Faroe Islands, the Honourable George Hutson, M. P., Barbados’ Minister of International Business and International Transport, confirmed that Barbados intended to move quickly to have these agreements brought into force as they are important means of pursuing the country’s long-standing policy of facilitating the reciprocal exchange of tax information.
Barbados has also initialed a tax treaty with Iceland, and protocols to its existing double taxation treaties with Sweden, Norway and Finland. In-keeping with its policy on information exchange with respect to tax matters, these agreements will allow both Barbados and the Nordic Council members to apply the Global standard on a reciprocal basis.
Minister Hutson noted that as a tax-treaty based jurisdiction, Barbados will continue to pursue the negotiation of DTAs with its OECD Global Forum partners in order to apply the international standard on tax information exchange and support the country’s economic development.
Copies of Barbados' DTAs are available at