Global Forum on Transparency and Exchange of Information for Tax Purposes › Phase 2 Peer Review Report Summary: Barbados
The Phase 2 review rates Barbados as overall partially compliant with the international standard. Barbados has a number of treaties that do not meet the international standard, which did not allow the authorities to exchange information in all cases. More importantly, Barbados has been approached by a number of peers to negotiate EOI agreements in the form of TIEAs but has not been diligent to answer these requests, mainly because Barbados prefers to negotiate DTAs. During the review period Barbados has also experienced some difficulties in answering EOI requests in a timely manner, but the competent authority now has a new organisational structure and internal processes in place for handling EOI requests. Barbados should report steps taken to address the recommendations made in the Phase 2 report within six months. For further information on Barbados' exchange of information practices and to read the full report click here.