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Level tax playing field coming - Toppin - Barbados Today

March 17, 2021 The distinction between international business companies and domestic firms in the payment of corporate tax to Government is to officially end in three months, Minister of International Business Ronald Toppin has revealed. As the House of Assembly considers the 2021/2022 Estimates of Revenue and Expenditure, he told lawmakers that by June 30, the Mottley administration will completely close the taxation gap between these two types of business operations. Toppin said: “We have already revised our corporate tax structure. We have converged our corporate tax rates [for] domestic and international business companies. We have brought the tax rate down to a rate that is more found in the international business sector which is between 5.5 per cent corporate tax at the top and one per cent at the bottom.

$12 million BIDC hole - Barbados Today

$12 million BIDC hole Article by March 16, 2021 Pay your rent, was the message Minister of International Business Ronald Toppin sent on  Monday to delinquent tenants of the Barbados Investment & Development  Corporation (BIDC), who owe the agency some $12 million. The situation is now so bad that the BIDC’s acting Chief Executive Officer Dwaine Stuart told Parliament Monday it was “really hampering” the operations of the state agency. The financial bind, in which the business development and export promotion agency finds itself, was outlined Monday during the first day of debate on the Appropriation Bill – the Estimates Debate in the House of Assembly.

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