Barbados And Botswana Sign MoU On Double Taxation Avoidance

by Amanda Banks, Tax-News.com, London

03 March 2005

Barbados and the African Republic of Botswana have signed a Memorandum of Understanding that it is expected will lead to agreements on Technical Co-operation and Double Taxation Avoidance.

Following President Festus Mogae’s visit to the Caribbean island last week, the two countries also signed a Memorandum of Understanding on Co-operation to allow the two governments and their peoples to exchange ideas and expertise in a wide range of other areas.

The signature of the agreements was interpreted by both parties as a successful conclusion to the negotiations begun between the two nations when Barbadian Prime Minister, Owen Arthur, visited the African state last year.

According to Mr Arthur, the signing of a Double Taxation Agreement will open up many new opportunities for business, entrepreneurs and investors from both countries and other developing nations.

"I am convinced that, with foundations such as these, our relations will go from strength to strength,” Mr Arthur remarked.

He added that small and disadvantaged nations must seek to strengthen cooperation with one another in order to make their voice heard more clearly on the international stage.

“The best way of achieving this goal is for like-minded states such as ours to break the geographical barriers that separate us in the quest for the things that unite us," he stated.

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