The Barbados Ministry of International Business and Industry has issued a release announcing that Barbados is now compliant with the requirements of BEPS Action 5 (Harmful Tax Practices) and is no longer under threat of a negative listing by the OECD. The compliance has been achieved through legislative changes enacted by the Parliament of Barbados in December 2018, including the convergence of international and domestic tax rates so that all companies, except insurance companies, are subject to regressive tax rates as follows from the 2019 income year: 5.5% on all taxable income up to BBD 1,000,000; 3.0% on all taxable...