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Two recent court cases have changed the landscape around what constitutes a captive for US tax purposes. This potentially opens the door for some companies to revisit whether they can benefit from such risk transfer structures, as EY Tax and Risk consultants Rob Ollins, Paul Phillips and Jim Bulkowski explain.
Within its list of frequently asked questions (FAQs) on issues associated with the requirements of the Foreign Account Tax Compliance Act (FATCA), the United States Internal Revenue Service (IRS) has provided added information for foreign financial institutions (FFIs) in jurisdictions with in-substance intergovernmental agreements (IGAs).
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%.
Barbados’ Bilateral Treaty Network as at March 30th, 2015 from the Internation Business division of the Ministry Of Industry, International Business, Commerce And Small Business Development
Governor of the Central Bank of Barbados Dr. DeLisle Worrell says new challenges such as the Foreign Account Tax Compliance Act (FATCA) are affecting the island’s international financial services (IBFS) sector.
The projections for stronger economic growth in Barbados in 2015 have been restated by the Central Bank of Barbados (CBB). The Governor of the CBB, Dr. Delisle Worrell, said that economic activity is forecast to expand by between 1.5 and 2.0 per cent during the remainder of 2015.
Jamaica’s Finance Minister Dr. Peter Phillips says the Caribbean continues to feel the impact of the global economic crisis that is impeding its capacity to grow. Phillips said he welcomes the opportunity for the Caribbean to engage with the powerful G20 countries to highlight and address some of the peculiar challenges that are impeding their progress. “This first contact, I think, is important and it will be the first of a number of contacts. We are grateful to the Turkish authorities, who are President of the G20 this year and the Chinese, who will preside next year. During these engagements, we’ll have to collaborate with the G20 to examine some practical solutions to the issues facing the Caribbean,” Phillips said as he addressed the first Caribbean Regional Dialogue with members of the G20 Development Working Group earlier this week.
United Airlines has announced a series of cuts to its Newark-Bermuda service later in the year that has dealt a blow to the Bermuda Tourism Authority’s (BTA) bid to woo more visitors to the island.
The high cost of regional travel remains a concern and the Caribbean Development Bank (CDB) is adamant that concerted efforts must be made to bring those costs down.
That issue, and the role that regional air carriers can play, was raised and addressed by senior officials of the CDB during its recent press conference at the Hilton Hotel. The Director of Economics, Dr. Justin Ram, is recommending that not only is there a need to lower the cost of regional transport for both people and goods, but of equal importance, he said, is the need to make intra-regional travel easier.
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).
Remarks by Ms. Connie Smith, President, Barbados International Business Association: “IBFS: Innovate, Believe, Fashion, Strategise” at Hilton Barbados, Needhams Point, St. Michael on April 10, 2015
President’s Update delivered by Ms. Connie Smith, President of BIBA, at the January 2015 BIBA Luncheon Seminar, Hilton Barbados, Needham’s Point, St. Michael.
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.