New Legislation

Money Laundering and Financing of Terrorism (Prevention and Control) Act, 2011 - 23.

The Money Laundering and Financing of Terrorism (Prevention and Control) Act, 2011, was proclaimed on November 11, 2011. This act reforms the law in respect of the prevention and control of money laundering and financing of terrorism to reflect more comprehensively the Forty Recommendations and Nine Special Recommendations of the Financial Action Task Force which Barbados is committed to implement by virtue of its membership in the Caribbean Financial Action Task Force, an associate member of the former body, and provide for related matters.

International Corporate and Trustee Service Providers Act 2011

This Act provides for the regulation of the providers of international corporate and trust services and for related matters.

Income Tax (Exchange of Information) Regulations 2011

The passage of the Income Tax (Exchange of Information) Regulations, 2011, allows Barbados to meet the standards set out in Article 26 of the OECD 2008 Model Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and Capital in double taxation agreements currently in place.