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Global business confidence slipped to five-year low in October, according to a survey of 6,100 companies. The number of firms that expect business activity to be higher in the year ahead exceeded those that expected a decline by about 28%.
Europe’s top antitrust regulator, the Brussels-based European Commission, has launched an unexpected assault on what it suspects are sweetheart tax deals for multinational companies, plowing into an area traditionally regarded as the sovereign preserve of national governments.
Abandoning citizenship is often a last desperate way for Americans living outside the U.S. to escape a lifetime of onerous tax filings. But it’s about to become a much costlier exit strategy.
Barbados and the United States have signed an intergovernmental agreement to give effect to the United States, Foreign Account Tax Compliance Act (FATCA). Minister of International Business Donville Inniss said at the signing ceremony that the agreement will contribute to strengthening the Barbados regulatory framework.
Barbados is changing several pieces of legislation with a view to making it easier to do business in the island said Minister of Industry, International Business, Commerce and Small Business Development Donville Inniss.
Prime Minister Freundel Stuart has described Barbados as a clean, low tax and well regulated international financial centre while speaking to Ambassador of Chile, Fernando Schmidt, during a recent courtesy call at Government Headquarters, where Mr. Stuart expressed the view that Barbados could be attractive to Chileans who want to do business here.
Gilberto Caldart, president of MasterCard’s operations in Latin American and Caribbean, said: “Latin America is a very important market for MasterCard, and our 340 million cards in the region represent about 11 percent of our cards in use worldwide.” The region also accounts for about 7 percent of MasterCard’s global purchase volume and some 8 percent of its global “gross dollar volume,” which refers to all transactions. “Our outlook for growth in the region is very positive,” Caldart said.
Guyana is still at risk of being blacklisted by the Financial Action Task Force (FATF) for failing to pass the Anti-Money Laundering and Countering the Financing of Terrorism legislation, according to Attorney General Anil Nandlall.
The St. Lucia government has appointed a task force to determine whether or not the island should establish an Economic Citizenship Programme. The Kenny Anthony government said that the task force, which is expected to submit a report by December 1, will be chaired by Professor Vaughan Lewis, the foreign policy advisor to the government and former University of the West Indies lecturer.
The Board of Directors of The DGM Group of Companies has announced the appointment of Mr. Wayne Fields as President of DGM Bank & Trust Inc, effective 1st November 2012.
The Shareholders and Directors of DGM Bank & Trust Inc. are pleased to announce the appointment of Lynn A. Garner as Vice President – Trust Services.
The Towner Management Group, the largest independent captive and international business company manager in Barbados, announced today that it has sold its Barbados-based business and operations to the Jardine Lloyd Thompson Group plc (JLT).
Effective January 1, 2015, the Canadian Federal Government will be changing the rules of play for how foreign income by Canadian banking and insurance subsidiaries is treated for tax purposes. Mr. Douglas Connell, Senior Tax Advisor with Deloitte Barbados, delivered a presentation at BIBA's February 25, 2014 luncheon seminar outlining the major implications of the new measures, followed by a panel discussion offering further perspectives on the issue from international tax professionals Mr. Ben Arrindell, Mrs. Dominique Pepin, Ms. Gloria Eduardo, and Mr. Wayne Lovell. A PDF copy of Mr. Connell's presentation can be downloaded here.
Improve the ease of doing business in Barbados and the additional Government revenue will naturally follow, was the stance taken by Barbados International Business Association (BIBA) President, Ms. Connie Smith, as debate continues to swirl around regarding the appropriate measures that Government needs to take to balance its finances.
The Barbados International Business Association (BIBA) views Barbados’s elevation to the Vice Chairmanship of the Global Forum of the Organization for Economic Cooperation and Development (OECD) as a validation of its high standing among international business and financial centres.
A new Board of Directors has been elected to lead the affairs of the Barbados International Business Association (BIBA), headed by new President, Connie Smith, Managing Director of Tricor Caribbean.