The Government of Barbados is on track to revise its current
suite of international business legislation by year end to ensure
compliance with the Organisation for Economic Cooperation and
Development's Base Erosion and Profit Shifting (BEPS) Action 5
on Harmful Tax Practices. As the work is ongoing and engaging the
full attention of the Ministry of International Business and
Industry, the Office of the Attorney General, the Chief
Parliamentary Counsel, the Ministry of Finance, the Central Bank of
Barbados and the Financial Services Commission, Barbados is ready
to embrace the world as its business thrust.
In giving a progress report earlier today, the Hon. Ronald
Toppin, M.P., Minister of International Business and Industry
confirmed that, "the Cabinet of Barbados has fully endorsed
proposals which include the adoption of a regime of tax convergence
across the corporate landscape. The new rates will be
competitive for all businesses and will be attractive to
