BARBADOS AND CANADA have updated a double taxation agreement that has been in place since January 1980.
In the Committee Room of the Parliament Buildings yesterday, the two countries signed a protocol to the agreement, bringing it in line with transparency and other standards set by the Paris-based Organization for Economic for Co-operation and Development (OECD).
Minister of International Business and International Transport George Hutson said: “The signing of this protocol will improve the treaty-based mechanism for tax information exchange to the level of the standard on transparency and exchange of information.
“Undoubtedly, this protocol demonstrates our commitment to internationally accepted principles of transparency and tax information exchange to which we have agreed, and to which we have had several years of practical application.” (TY)
ABOVE, MINISTER OF INTERNATIONAL TRANSPORT and International Business George Hutson and Canada’s High Commissioner to Barbados Ruth Archibald signing the protocol to the double taxation agreement yesterday. Looking on is counsellor (commercial) and senior trade commissioner in the High Commission, Neil Clegg. (Picture by Nigel Browne.)
Full story in today’s MIDWEEK NATION.
