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Date: 26 Oct, 2015
Source: Invest Barbados

For the first time, Barbados will be hosting a Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes, from October 29-30, 2015 at the Hilton Barbados Resort, Needham’s Point, St. Michael.

The Global Forum is the world’s largest network for international cooperation in the field of taxation and financial information exchange, and currently comprises 129 member countries.

More than 200 delegates are expected to attend the two-day Forum to discuss new steps to accelerate international cooperation against tax evasion, key developments in the areas of exchange of information on request and the Global Forum’s future work plans, among other tax related matters.

Prime Minister of Barbados, The Rt. Hon. Freundel Stuart, Q.C., along with Mr. Kosie Louw, Chair of the Global Forum, will deliver welcome and opening remarks on Thursday, October 29 from 9:00 a.m. Later that day from 6:00 p.m., there will be a signing ceremony on the Multilateral Competent Authority Agreement, where a number of countries, including Barbados, Belize, Grenada, Japan, Marshall Islands and Samoa will participate.

During the Meeting, a number of peer review reports, including Phase 1 and 2, as well as Supplementary Phase 1 and 2 reports, will be published on specific countries.

The Forum will culminate on Friday, October 30, with a Global Forum Closing Press Conference at 5:00 p.m. Barbados’ Minister of Industry, International Business, Commerce and Small Business Development, the Hon. Donville Inniss will be in attendance, along with Mr. Kosie Louw, Monica Bhatia, Head of the Global Forum Secretariat and Pascal Saint-Amans, Director, Organisation for Economic Cooperation and Development Centre for Tax Policy and Administration.

Previous Global Forum Meetings on Transparency and Exchange of Information for Tax Purposes have been held in Mexico, Singapore, Bermuda, Paris, Cape Town, Jakarta and Germany.