Minister of International Business and Industry, Ronald Toppin,
has expressed concern about the two-pillar package on taxation in
the digital economy being implemented by the Organisation for
Economic Co-operation and Development (OECD).
Minister Toppin pointed out that Pillar Two of the package,
which seeks to put a floor on tax competition of corporate income
tax by introducing a global minimum corporate tax, will have an
impact on the island's economy.
He disclosed that Government had established a Global Product
Development Task Force comprising "a dedicated team" of
public and private sector representatives to focus exclusively on
addressing concerns.
Speaking during the opening of a Product Development Workshop,
hosted by Invest Barbados and the Task Force, Minister Toppin said:
"The two-pillar approach of the OECD on taxation in the
digital economy, as we know it, carries significant consequences
and effects which must be weighed. From Barbados'
