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Barbados Ahead Of The Tax Transparency Curve: FM

by Lorys Charalambous, Lowtax.net, Cyprus
09 November, 2016

Barbados is confident that it offers stability to investors and is transparent and compliant with international tax developments, said Minister of Finance Christopher Sinckler.

Speaking at a recent Caribbean conference for tax authorities, Sinckler said that: "I can say upfront that Barbados's record of cooperation with international processes in tax regulation and transparency has been exemplary. I certainly do believe that by and large, for most of our regional colleagues, the same can be said as well."

Sinckler continued: "In all respects, Barbados has modernized its legislation, upgraded its policy framework, and broadened its network of partners across several countries and tax administrations to ensure that we not [only] secure our national space, but build firewalls against tax avoidance, money laundering, the financing of terrorism and other illicit activities."

Sinckler said, as a result of these efforts, the OECD last month upgraded Barbados's status to largely compliant with the requirements of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes.

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