Prime Minister Meets With German Envoy

Sheena Forde Top Stories

Barbados is desirous of forging deeper ties with Germany. This was the hope conveyed by Prime Minister Mia Amor Mottley during a courtesy call by the new Ambassador of Germany, Mr. Holger Michael. During the courtesy call which took place in the Committee Room of Parliament last Friday, discussions between the Prime Minister and the German envoy centred on climate …

Tax Band Start Date Now August 1

bgis Ministry News

Employers are asked to note that the Ministry of Finance, Economic Affairs and Investment has changed the effective date of the new upper income tax band from July 1 to August 1, 2018. The new upper income tax band of 40 per cent on those whose assessable incomes are greater than $75,001, was announced as part of the mini-budget on June 11, by Prime Minister Mia …

Inniss: Don’t Complain, Look For Opportunities

Joy-Ann Gill Top Stories

Barbados’ task is not just to sit, quarrel and complain about what others like the Organisation for Economic Co-operation and Development (OECD) are proposing; rather, it is to look and examine the opportunities. International Business Minister, Donville Inniss, underscored this point today, as he addressed the consultation with the OECD on Legislative Changes relating to Action 5 and the Forum …

Serious Implications For Blacklisted Countries

Joy-Ann Gill Top Stories

Blacklisting of Barbados by the European Union (EU) could have serious implications for our economy. International Business Minister, Donville Inniss made this emphatic statement on Wednesday at a press conference convened at Baobab Tower, Warrens, St. Michael, to address the actions/decisions of the EU in Brussels on December 5, that saw the country listed among non-cooperative jurisdictions for tax purposes. …

Barbados Not A Non-Cooperative Jurisdiction

Joy-Ann Gill Top Stories

Barbados is NOT a non-cooperative jurisdiction in taxation matters or any other matter. The island’s Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, stressed this yesterday, as he addressed media representatives on the blacklisting of this country by the European Union (EU). At the offices of International Business, Baobab Tower, Warrens, St. Michael, Minister Inniss forcefully …

Statement On European Union Tax Listing

bgis Top Stories

Statement from Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, on the European Union list of non-cooperative jurisdictions in taxation. Good evening Ladies and Gentlemen, Let me take this opportunity to express my thanks to GIS and the media for responding at such short notice to the scheduling of this press conference. I also welcome our …

Balanced Approach To Granting Concessions

Sharon Austin Top Stories

This island’s Minister of Finance, Christopher Sinckler, believes there must be a “balanced approach” to governments granting tax concessions to investors. Mr. Sinckler said that while officials should never “give away too much” in concessions, they should also never push themselves out of the market by not offering the necessary opportunities to investors because this would make them look elsewhere. …

Gov’t Signs Loan Agreement With CAF

Sharon Austin Top Stories

Government today signed a loan agreement with the Latin American Development Bank (CAF) for US$15 million to finance Barbados’ Tax Administration Infrastructure Reform Programme. Shortly before signing the document, Minister of Finance, Christopher Sinckler, said the programme would be implemented over a two-year period at a cost of US$18.93 million, with Barbados providing US$3.93 million in counterpart funding. Mr. Sinckler …

B’dos Is A Clean, Low Tax Jurisdiction

Sharon Austin Top Stories

Barbados is a clean, well regulated, low tax jurisdiction and not a tax haven! This was Prime Minister Freundel Stuart’s firm message when a delegation from the United States of America, including Chief Aides and Policy Advisors to Congressional Members Elliot Engel and Ileana Ros-Lehtinen, Eddy Acevedo and Eric Jacobstein, paid him a courtesy call recently at Government Headquarters. Those …

Call To Study Harmful Tax Practices

Julie Carrington Top Stories

Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, is encouraging members of the international business sector to study the work of the Forum on Harmful Tax Practices. He said this research must be conducted within the context of Government’s commitment to the sustainability of this sector and its operation on a level that provides a secure …