Barbados, Poland Eye Double Tax Agreement
by Mike Godfrey, Lowtax.net, Washington
20 May, 2016
Barbados' Minister of Foreign Affairs and Foreign Trade, Maxine McClean, has expressed interest in concluding a Double Taxation Agreement with Poland, to prevent double taxation and fiscal evasion, and foster cooperation between the two countries.
Double tax agreements ensure that income from persons engaging in trade and investment is not taxed twice. Once in force, the agreement will allocate taxing rights to the two countries and may reduce or eliminate withholding tax on cross border income.
McClean noted the potential for cooperation between the two countries in a number of areas, including tourism and security, adding: "Despite the several differences between our two countries, in size, economies, and populations, I believe that we have together laid the foundation for nurturing a solid and productive relationship based on common interests and shared perspectives. Let us use every opportunity to continue to build on this foundation."
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