Barbados (BB)

Jurisdiction Overview

IDQuestionAnswer
363 *Tax Rulings: Are unilateral cross-border tax rulings (e.g. advance tax rulings, advance tax decisions) available in laws or regulation, or in administrative practice? Yes
 Data Date: 2019

Notes

 
According to the OECD, Barbados can issue the following rulings: (i) rulings related to preferential regimes; (ii) cross-border unilateral advance pricing arrangements (APAs) and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles; (iii) cross-border rulings giving a unilateral downward adjustment to the taxpayer’s taxable profits in the country giving the ruling; (iv) permanent establishment rulings; and (v) related party conduit rulings." (OECD UTR 2018: 60). Although the advance ruling system in Barbados is not supported by a formal system or legislation, private, confidential rulings can be requested by companies on a case-by-case basis (IBFD 2019d).

Sources

OECD UTR 2018: 60
 
IBFD 2019d