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HMRC internal manual

Double Taxation Relief Manual

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HM Revenue & Customs
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DT: Barbados: double taxation agreement, Article 29: Termination

(1) This Agreement shall continue in effect indefinitely but either of the Contracting Governments may, on or before the thirtieth day of June in any calendar year after the year 1974, give notice of termination to the other Contracting Government and, in such event, the Agreement shall cease to be effective:

(a) in the United Kingdom:

(i) as respects income tax, surtax and capital gains tax, for any year of assessment beginning on or after 6th April in the calendar year next following that in which the notice is given;

(ii) as respects corporation tax, for any financial year beginning on or after 1st April in the calendar year next following that in which the notice is given;

(b) in Barbados:

(i) as respects income tax, for any year of assessment beginning on or after 1st January in the calendar year next following that in which such notice is given;

(ii) as respects petroleum winning operations tax, for any accounting period beginning on or after 1st January in the calendar year next following that in which such notice is given;

(iii) as respects trade tax, for any taxing period beginning on or after 1st April in the calendar year next following that in which such notice is given.

(2) The termination of this Agreement shall not have the effect of reviving any agreement or arrangement abrogated by this Agreement.