Barbados has signed a double taxation agreement (DTA) with the Republic of San Marino. The signing took place on Friday, December 14, in New York.
The DTA was signed by Permanent Representative of Barbados to the United Nations, Joseph Goddard and Permanent Representative of the Republic of San Marino to the United Nations, Daniele Bodini.
Ambassador Goddard stressed: “Barbados has succeeded in developing a strong, well-regulated international business and financial services sector and we are pleased to be able to add San Marino to our growing treaty network.”
The Barbadian envoy pointed out that he anticipated the agreement would enhance the investment framework of Barbados and San Marino. He also explained that it should facilitate trade, as well as provide investors with more investment options.
Ambassador Bodini of San Marino welcomed the signing of the agreement, adding that he hoped it would promote mutual benefits and a strengthening of ties between the countries.
Mr. Bodini stated that Barbados and San Marino “have much in common. We are small states with economies heavily dependent on tourism and financial services.” He also indicated that he looked forward to continuing to work together at the United Nations and in the context of international conferences such as the Forum on Small States.