BIBA Response to Concerns to the OECD Harmful Tax Practices

The Organisation for Economic Cooperation and Development (OECD) issued a Harmful Tax Practices – 2017 Progress Report on 16 October 2017 (the Progress Report).

The Progress Report contains guidance on preferential tax regimes, timelines for the amendment of such regimes, and provides an update on the status of implementation of Action 5 of the Inclusive Framework on Base Erosion and Profit Shifting.

The Barbados International Business Association (BIBA) has responded to concerns expressed in the international business community about the Progress Report and its implications for international business vehicles in Barbados.

The full press release from BIBA may be viewed here.

For more information on the above, please contact Melanie Jones, Partner or your usual Lex Caribbean contact.