Barbados is seeking a Double Taxation Agreement (DTA) with Japan in an effort to boost investment opportunities between the two countries.
This was disclosed by this country’s Foreign Minister, Christopher Sinckler, who held talks recently with the Senior Vice-Minister of Japan, Hitoshi Kimura.
Citing the benefits of such an Agreement, the Minister underscored the importance of Barbados cultivating a more mature and economically viable relationship with Japan as well as the rest of the region.
Last month, and official from the Barbados Ministry of Foreign Affairs, Foreign Trade and International Business revealed that the government intends to "vigorously pursue" the expansion of its treaty network in 2008.
"It is expected that more of these agreements will be concluded in the near future as Brazil, South Africa, Ireland, India, Malaysia, Nigeria, Belgium, Russia, Czech Republic, Chile, Colombia and Argentina have been targeted for negotiations," the official explained.
The announcement was made to mark the entry into force of a Double Taxation Agreement between Barbados and the Republic of Seychelles. This Agreement will apply to income tax on taxable income derived on or after the first day of January 2009.
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