Barbados has 31 tax agreements in force as reported in its response to the Peer Review questionnaire, including the multilateral agreement among the members of the CARICOM concluded with ten treaty partners (the CARICOM Agreement).1 Nineteen of those agreements comply with the minimum standard.
Barbados signed the MLI in 2018 and deposited its instrument of ratification on 21 December 2020, listing its non-compliant bilateral agreements concluded with other members of the Inclusive Framework. The MLI entered into force for Barbados on 1 April 2021. The agreements modified by the MLI come into compliance with the minimum standard once the provisions of the MLI take effect.
Barbados indicated in its response to the Peer Review questionnaire that steps have been taken (other than under the MLI) to implement the minimum standard in the CARICOM Agreement.
Barbados is implementing the minimum standard through the inclusion of the preamble statement and the PPT.2