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.
Call for court action
nationnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationnews.com Daily Mail and Mail on Sunday newspapers.
Barbados strong value proposition makes it an ideal location for investors
barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
Not the last challenge from EU
Article by February 26, 2021
Although rejoicing that Barbados has been removed from the European Union’s (EU) so-called blacklist, Minister of International Business and Industry Ronald Toppin remains sceptical of the political and economic bloc, saying he sees a rough road ahead due to expected continued shifts in goal posts.
At the same time, one of Barbados’ lead tax negotiators is predicting that the island could come up against taxation and sanctions on the quickly growing digital economy.
Speaking on Thursday at the annual tax update seminar hosted by the Institute of Chartered Accountants of Barbados (ICAB), Toppin said he remained optimistic the country would be able to overcome future obstacles relating to tax compliance.