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Barbados investigating reports on offshore business
Article by June 26, 2021
The International Business Unit is investigating a report that places a Barbados-registered offshore company at the centre of an alleged multi-million-dollar international crime ring.
Minister of International Business and Industry Ronald Toppin however revealed that in the absence of an overseas conviction, it would be difficult to take any significant action except to prohibit the company from continuing to operate here.
A Canadian Broadcasting Corporation (CBC) article published earlier this month identified Hyuna International, which operates from Hastings, Christ Church, as being allegedly involved in a scheme that uses a network of streaming websites to scam thousands of internet users.
Barbados to ‘get break’ from tax blacklist
Article by December 10, 2020
Barbados has scored an apparent breakthrough in its fight to get the European Commission to remove the island from its blacklist of non-cooperative tax jurisdictions, according to Minister of International Business Ronald Toppin.
He told
Starcom Network radio on Wednesday that Barbados’ application to the Paris-based club of rich countries, the Organisation for Economic Cooperation and Development (OECD), for a “supplementary review” of the measure has been approved.
He explained: “This means and was stated by them in writing to us, that once the OECD agrees to grant us that supplementary review, then we are removed from their blacklist, this is, the blacklist of the European Union and placed on the grey list pending the outcome of that Supplementary Review.