Editing Economy of Barbados (section)

==== Bilateral treaties ====
Barbados has several bilateral tax treaties, mostly aimed at removing double taxation on companies that operate in the Barbados economy. Since Barbados is at times considered an expensive place to conduct business, the treaties are mainly a measure to provide some savings to international businesses that operate in Barbados. Countries that Barbados has taxation agreements with include:
*Austria
*[[Botswana]]
*Canada
*China,<ref>{{cite news | url=http://www.barbadosadvocate.com/newsitem.asp?more=business&NewsID=5140 |title=Double tax treaty to attract Int'l markets |access-date=15 October 2009 |first=Terence |last=Murrell |date=6 February 2006 |work=[[Barbados Advocate]] |archive-url=https://web.archive.org/web/20060211110821/http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=24352 |archive-date=11 February 2006 |quote="In the Far East we will [by] concentrating on Hong Kong and using it as a conduit to get into the Republic of China. We have a double tax treaty with China. They have exported skills here by way of architects, carpenters, masons, etc., in the building industry, and we hope we can follow that up with trade, persons who are looking to do business using Barbados as a financial centre," he noted. Mr. Skeete stated that Chinese entrepreneurs who may be looking to set up businesses in the United States and Europe may find the double tax treaty a useful vehicle for which they can set up a company in Barbados, and route their business through that company. }}</ref>
*[[CARICOM]]
*[[Cuba]]
*Finland
*Luxembourg
*[[Malta]]
*[[Mauritius]]
*Mexico
*Netherlands
*Norway
*Panama
*Seychelles
*Spain
*Sweden
*Switzerland
*The United Kingdom
*The United States
*[[Venezuela]]
''Source:'' [https://web.archive.org/web/20130607083848/http://www.investbarbados.org/dtas.php. Barbados Government website containing the text of the majority of the above tax treaties]

The bilateral tax treaty negotiated with Canada in particular has been a political-football for the government of that country.{{When|date=November 2021}}{{citation needed|date=November 2021}} The treaty was made to allow the profits for IBCs and [[offshore bank]]ing companies to be repatriated to Canada tax-free after paying taxes in Barbados. The aim was mainly for companies like the [[Canadian Imperial Bank of Commerce]] (CIBC), [[Royal Bank of Canada]] (RBC), and [[Scotiabank]], which (along with Barclays of the United Kingdom), when-combined control a healthy majority of Barbados' local Commercial Banking sector. In essence the treaty makes the economy of Barbados almost an unofficial part of the Canadian economy and it was aimed at allowing Canadian companies to extract profits back to Canada more easily.{{citation needed|date=November 2021}}