Barbados needs to address weaknesses in its legislative drafting if the island is to compete successfully for international business.
So said Andrew Brathwaite, president of the Institute of Chartered Accountants of Barbados (ICAB), while speaking yesterday during a seminar on Regional Tax Treaties, Tax Information Exchange Agreements (TIEAs) And OECD Standards.
He noted that Barbados had to amend a number of existing laws due to the Global Forum On Transparency And Exchange Of Information’s 2011 peer review.
During the event, hosted by ICAB in conjunction with the Faculty of Law of the University of the West Indies Cave Hill Campus in the faculty’s Moot Court, Brathwaite said that the Global Forum had found the island’s framework for the exchange of tax information to be deficient in a number of areas.
Read the full story in today’s MIDWEEK NATION.
