| Barbados Eyes Larger DTA Network |
by Phillip Morton, Investors Offshore.com
Monday, April 05, 2010
At the recent signing of the Barbados-Luxembourg Double Tax Agreement in London,
Barbados Minister of International Business and International Transport, George Hutson,
said that the continued expansion of the jurisdiction's tax treaty network is enhancing its
reputation and attractiveness as a place to do business.
"I believe that coupled with our Bilateral Investment Treaty (BIT), this
Convention will certainly enhance our investment infrastructure and product
offerings," Hutson said. "Investors in our countries will have access to more opportunities
with the added assurance of the promotion and protection of their investments.”
"It is also important to note that this Convention makes abundantly clear
the commitment of our two countries to the principles of transparency and tax
information exchange that we have agreed upon," he added. "I am pleased, therefore, that
we have been able to take the opportunity to bring the language of our Convention
into conformity with [this].”
"I look forward to investors taking advantage of the opportunities in
areas such as financial services, tourism, cultural services, research and development,
and educational services," Hutson added. "I am also hopeful to see our people collaborating
in joint ventures to provide new and innovative solutions and fill niches in
the respective markets.”
Barbados currently has double tax agreements with the Caribbean Community (CARICOM), the United States, Canada, the United Kingdom, Finland, Norway, Malta,
Sweden, Switzerland, Cuba, Venezuela, China, Mauritius, Botswana, Austria, the
Netherlands, the Seychelles, Mexico and Ghana.
Additionally, to promote and protect investments, Barbados has signed
BITs with Cuba, Venezuela, China, Canada, Germany,
Switzerland, the United Kingdom, Mauritius, Ghana, Belgium and Luxembourg. Furthermore, a list of priority countries has been devised for additional agreements, including Vietnam, the United States and Brazil.
Second round tax treaty negotiations are under way with India and Iceland. Treaties with Spain and Italy have been negotiated and await signature. Discussions on a conventions with Belgium and France have also been arranged, Hutson said.
.
|
LAWANDTAX-NEWS.COM
