The Barbados Revenue Authority was among seven other tax administrations in the region represented at a CARICOM-OECD (Organisation for Economic Co-operation and Development) Workshop, in Kingston, Jamaica, last week.
The two-day workshop provided member states with an opportunity to discuss the impact and progress of the Base Erosion and Profit Shifting (BEPS) Project in the Caribbean Community, while sharing experiences that demonstrate good practices of BEPS priorities and their implementation.
The workshop focused on the BEPS Minimum Standards, addressing preferential regimes and double taxation agreements as priorities for the CARICOM Member States. OECD facilitators, Diego Gonzalez, Nangel Kwong and Maikel Evers, shared their experiences regarding the implementation of BEPS Minimum Standards.
Tax policy advisers, tax professionals and administration officials from Member States exchanged views on the policy reforms and decisions that may be required to align CARICOM tax regimes with the standards and requirements regarding international taxation matters.
At the end of the workshop, participants identified an indicative BEPS implementation agenda, for pursuit by CARICOM Member States.