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Barbados Calls For Greater Integration With Latin America

by Mike Godfrey, Lowtax.net, Washington
12 February, 2015

Barbados has said Latin American and Caribbean states should collaborate to increase awareness of the important global economic contribution of small Caribbean financial centers.

Speaking on behalf of Barbados at the third summit of the Community of Latin American and Caribbean States (CELAC), Darcy Boyce said there was often a lack of sensitivity and true appreciation for the tax structures and instruments in low-tax domiciles like Barbados, and how those structures help to encourage investments in other countries.

He said that CELAC members, and in particular those countries that are also members of the Organisation of Economic Cooperation and Development, could help play a role in changing that perception, which he said had hindered Barbados's efforts to conclude bilateral tax treaties.

Boyce said: "We think that it is only [a] lack of information that hampers our efforts to conclude or even discuss bilateral tax instruments, for example, with many members of CELAC. We would be pleased to see a greater level of engagement and commitment and support in these matters by our CELAC brothers."

The CELAC comprises 33 sovereign states in the Caribbean and Latin America and aims to deepen political, economic, social, and cultural integration in the region.

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