On 31 July 2014, Portugal approved for ratification the pending income tax treaty with Barbados. The treaty was signed 22 October 2010, and is the first of its kind between the two countries.
Taxes Covered
The treaty covers Portuguese personal and corporate income taxes, and local surtax on corporate income tax. It covers Barbados income tax, corporation tax, and the petroleum winning operations tax.
Withholding Tax Rates
- Dividends - 5% if the beneficial owner is a company directly ho…