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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.
For a while, it seemed, the tide had turned against the tradition of secrecy in Zurich. But the impression of change is misleading, regulators and members of the insular banking fraternity say.
The influential Business Roundtable, a gathering of top US chief executives, said in a letter to US Treasury Secretary Jacob Lew that the BEPS project by the OECD could result in "new, unprecedented taxes on trade and investment that will freeze business investment and slow economic growth," they said.
Barbados will be highlighted as a premier domicile for international insurance at the 2014 RIMS Canada Conference, which will be held from September 14-17 in Winnipeg, Manitoba.
Minister of Finance and Economic Affairs, Christopher Sinckler has piloted the Economic Partnership Agreement Bill 2013 in the Barbados House of Assembly, suggesting that the participating regional countries were trailblazers because they insisted that there be an overarching trade development clause in the agreement and that it be put up front.
Barbados says it has completed a review of the Foreign Account Tax Compliance Act (FATCA) Inter-Governmental Agreement with the United States and has signaled to the USA that Barbados is ready to proceed to initial the Agreement once the approval of Cabinet is obtained, according to an official statement.
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 heads of the CARICOM states met last week to discuss issues including the trade deal, and issued a statement July 4 that said they “welcomed the progress made towards a CARICOM-Canada Trade and Development Agreement which has led to the successful conclusion of negotiations in several areas,” but added that there were “some outstanding issues which remain to be finalized.”
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.
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.
The latest budgetary measures by the Canadian Federal Government compel Barbados to be more agile and responsive than at any other time in the history of its international business sector. This came from president of the Barbados International Business Association (BIBA), Ryle Weekes, as he opened the association’s February luncheon seminar at the Barbados Hilton on Tuesday, February 25.
Jamaican-Canadian billionaire Michael Lee-Chin revealed his secrets to building wealth at the second Barbados International Business Association luncheon for 2011 held at the Hilton Barbados on February 25, 2011.