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| Barbados Initials Nordic Treaties |
by Amanda Banks, Tax-News.com, London
Monday, July 04, 2011
Barbados has initialled tax information exchange agreements with three Nordic
territories, initialled a tax treaty with Iceland, and added protocols to three
existing tax treaties.
George Hutson, Minister for International Business and International Transport
said the information sharing deals had been struck with Denmark, and its dependencies,
Greenland and the Faroe Islands, following the conclusion of negotiations.
In addition, a tax treaty has been initialled with Iceland, and protocols have
been drawn up to current treaties with Sweden, Norway and Finland. According
to Invest Barbados, these agreements will allow both Barbados and the Nordic
Council members to apply internationally-accepted standards on a reciprocal
basis.
Hutson confirmed Barbados's intention to move quickly, with a desire to have
the agreements brought swiftly into force. They are, he said, an important means
of pursuing the country’s long-standing policy of facilitating reciprocal
exchange of tax information.
In addition, Hutson noted that Barbados would continue to pursue the negotiation
of double tax treaties with Organization for Economic Cooperation and Development
members.
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