Barbados-Canada tax treaty updated
Wednesday November 09 2011 | 10:53 AM

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.”