Canadian Parliamentary report targets Barbados and other offshore banking and corporate centres

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I have a question for our glorious leaders of the DLP and BLP…

Tourism is dying and our offshore banking sector is under serious attack. What is this island going to be doing to earn foreign revenues in 10 years time? Folks like Dr. Duguid and Owen Arthur won’t care because they are rich enough to bail out, but what will our children do to earn a living?

“Canadian banks and other financial institutions should be required to find out the beneficial owners of corporations or trusts that are transferring money overseas, according to recommendations in a new report on tax evasion by Parliament’s finance committee.

The all-party finance committee reported Wednesday on the results of a lengthy review of tax havens, but the study immediately drew criticism from NDP and Liberal members who said its 11 recommendations are too vague and will do little to halt the tide of money flowing into offshore tax havens.”

… from the Globe and Mail article: Banks urged to find out who is sending money abroad

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32 Comments

Filed under Barbados, Canada, Offshore Investments

32 responses to “Canadian Parliamentary report targets Barbados and other offshore banking and corporate centres

  1. Mr Coco

    I will be in Barbados june 1 for a vacation and can hardly wait.

  2. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    Mr Coco @ google Violet Beckles , dont go to no lawyers office and sign nothing , but nothing, titles mean nothing in the land of land fraud , enjoy the water and sun , stay away from PENS with ink , dont let no one smile in your face and be nice to crook you , Enjoy your safe trip.

  3. Anonymous

    Plantation Deeds, I have been saying that we will soon be all sucking salt. It seems that Politicians done care even for their families, with Sugar gone, Tourism not far from behind, no one cares ??? We have seem the fall of Guyana, Jamacia and Trinidad, Barbados is next in line and looks like it is about to happen. The only saviour for the above they all still have chickens and sheep in their backyard, this can’t happen in our Terraces and Close.
    Cat and dog only. Nowadays, I wonder what some people would do without Cheffette, the time is coming that they won’t have money to support this habit.

  4. Anonymous

    I WAS BORN IN BARBADOS NOW LIVING IN THE STATES AND IT IS ALWAYS A PLEASURE TO COME BACK HOME, I AM COMING IN AUGUST AND BRINGING ABOUT 7 USA CITIZENS THAT HAVE NEVER BEEN TO BARBADOS BEFORE AND CAN’T WAIT TO GIVE THEM A GREAT TIME ON MY ISLAND, WE WANT TO BE SAFE, WE WILL WATCH OUR BACKS FROM WHAT WE HAVE BEEN HEARING LATELY ABOUT PEOPLE BEING ROBBED.

  5. Paul

    Anonymous, while you’re in the island. Can you please offer some common- sense tips to the British vacationing in Barbados?

  6. Paul

    The British seems to be soft targets for these rude- boys in Barbados.Teach the poor souls some of your “Big-City” survival skills anonymous.

  7. marsdalebear

    “The British seems to be soft targets for these rude- boys in Barbados.Teach the poor souls some of your “Big-City” survival skills ”

    Surely the police are there to keep Law and Order and to protect the public?

    And then I woke up

  8. Paul

    Marsdalebear, you really need to wakeup; you have been sleeping for far too long. I see your point though. You expect the police to be the miracle workers in our society. Good luck with that.

    We are living in dangerous times. So therefore, our personal safety should be our number one priority. But, some much like you yourself prefer to leave it up to the police. Good luck, Barbados newest victim.

  9. Paul

    Marsdalebear
    THU, APRIL 05, 2012 – 12:07 AM

    THE MAN shot and killed by Police Tuesday night was involved in an attempt to rob a woman walking along Cheapside in The City, Police reported.
    Police sources told the WEEKEND NATION that Jamar Andre Maynard, 27, of Denton Road, Grazettes, St Michael, was one of two men dressed in black and carrying a firearm when the incident occurred around 11 p.m.
    The woman was texting on her cellphone when the two emerged from Literary Row Road, the source said.
    “Two plainclothes detectives who were on foot patrol kept the suspects under surveillance; and when approached one of the two men opened fire on the police,” the source said…

  10. Well Well

    Anonymous says:
    Terraces and Close.
    Cat and dog only

    They can always eat the cats and dogs in the heights and terraces, no one will know………..they have no clue what they get served in restaurants, so what difference would it make?

  11. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    Bajan grand-mother could be the owner of the island

    Monday, November 15, 2004

    85 yr old Violet Beckles produced deeds showing she owned the famed Kensington Oval, the mecca of Caribbean Cricket. Thats just one of almost 200 properties in the islands commercial hub which Beckles claims she received ownership through a will from her Aunt, Beatrice Henry.
    Beckles attorney, Dr Lenda Blackman, indicated work already begun to collect rents owed and monies paid out in the past for a number of her properties.
    The purported will, dated January 17, 1984 was prepared by attorney Frederick Smith (now Sir Frederick). Current Barbados attorney general, Mia Motley, reviewed the documents back in 1990, before her current appointment, and confirmed Beckles as the beneficiary of the will.
    The Governments Urban Development Commission (UDC) recently got drawn into the controversial situation when it was reported the UDC paid 86 million to others for property that belong to Ms. Beckles. This may require the UDC pay a second time for the property
    If successful, Beckles claim could put a tail-spin to the multi-million-dollar refurbishing of Kensington Oval and its environs in preparation for the 2007 World Cup.

  12. marsdalebear

    @Paul
    You really have missed the point of my post haven’t you?
    The “Whoosh Parrot” award goes to you.

  13. Dalomos

    The core is rotten. But the original question (before the thread went left) was what will our children do to earn a living?

    There is no industry, there are no patterned and governed modern trade schools and or union apprenticeships. There are no successfully established study abroad programs. No youth jobs programs. The few start up-business assistance programs are still tailored to the tourism model.

    What has been established is an old system where the members of the elite fill their coffers while depleting the country’s coffers. We worry about the petty rude-boys when the real crimes are committed in the house of gov’t..

  14. Paul

    @Marsdalebear
    I love your hilarious joke. I am falling out chair right about now.

  15. PLANTATION DEEDS FROM 1926-2013 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    When ever you all get to Barbados , We will give you all a class and answer more question than the police or the MPs

  16. GreenMonkey

    Noticed that there was no mention of Barbados in this article about new US/British/Australian tax authorities’ investigations based on leaked data which is reputed to “…. lay bare the individuals behind covert companies and private trusts in the British Virgin Islands, the Cook Islands, Singapore and other offshore hideaways.” Although, I supposes it’s always possible Barbados might be found at some point in the “other offshore hideaways” category.

    Authorities Announce Tax Haven Investigation
    by The International Consortium of Investigative Journalists
    May 9, 2013, 3:00 pm

    Tax authorities in the U.S., Britain, and Australia today announced they are working with a gigantic cache of leaked data that may be the beginnings of one of the largest tax investigations in history.

    The secret records are believed to include those obtained by the International Consortium of Investigative Journalists that lay bare the individuals behind covert companies and private trusts in the British Virgin Islands, the Cook Islands, Singapore and other offshore hideaways.

    The hoard of documents obtained by ICIJ represents the biggest stockpile of inside information about the offshore system ever gathered by a media organization.

    snip

    Last month, the ICIJ and 37 media partners began reporting on more than 2.5 million files that include the names of thousands of American, Australian and British citizens as well as families and associates of long-time despots, Wall Street swindlers, Eastern European and Indonesian billionaires, Russian corporate executives, international arms dealers and a sham-director-fronted company that the European Union has labeled as a cog in Iran’s nuclear-development program.

    The files leaked to ICIJ provide facts and figures — cash transfers, incorporation dates, links between companies and individuals — that illustrate how offshore financial secrecy has spread aggressively around the globe, allowing the wealthy and the well-connected to dodge taxes and fueling corruption and economic woes in rich and poor nations alike.

    http://www.icij.org/blog/2013/05/authorities-announce-tax-haven-investigation

  17. marsdalebear

    @Paul
    I am glad that you find the Barbados police and their methods amusing. I am certain that their “clients” do not share in your amusement.

  18. Offshore banking is not without risks. You need to see inside out of the bank and the economy before you commit your money there. You have to have reliable information on the bank you are choosing, the charges, the hidden rules, the regulations as well as what is the legal position of your assets not only in your resident country but also in the foreign banking country.

  19. GreenMonkey

    Canada left out of tax probe into leaked offshore data
    Revenue Canada requests data after U.S., U.K. and Australia team up to share tax-haven records

    snip

    It was not immediately clear why Canada was initially excluded from the partnership.

    In a statement Thursday, Revenue Minister Gail Shea said Canada has been “working tirelessly” with international partners since the media reports surfaced and has secured a commitment from Britain that “information relevant to Canada stemming from this data will be shared.”

    “My officials have also made formal requests to the American and Australian tax administrations for the information in their possession,” the minister’s statement said.

    Earlier in the day, a senior enforcement official at the Canada Revenue Agency said that the organization was aware of the announcement and is working with countries with which it has agreements to share tax information.

    The official was surprised, however, when CBC News told them that Britain has had the offshore data for nearly three years. “Is that right, eh? That’s news to me,” the official said.

    http://www.cbc.ca/news/canada/story/2013/05/09/cra-data-leak-excluded.html

  20. Brownbeach

    @Marsdalebar
    Those methods…kept Barbados safety for donkey years. But you were too busy pursuing your personal- affairs under the shadow of those methods that allowed you to do so. Am I making myself clear? Or would you like me simplify so you can ascertain it?

  21. marsdalebear

    @Brownbeach
    What on earth are you on about?
    What does this mean” Or would you like me simplify so you can ascertain it?”
    Is it even English?
    How you can even begin to defend the police and their methods is beyond my understanding.

  22. Wunna Shoulda VOTE DEM OUT

    So the Banks do not want government bonds, do yBou really feel the insurace comapnys will want them. I am a private citizen and at this point I dont want them either. Especially seeing that you the Govt are having problems paying salaries and Mr. Barrack cannot get his money… Now why would I put my money in your hands for you to manage it? I would have to be doggone crazy.

  23. Anonymous

    Canadian banks in Barbados are required to find out the beneficial owners of any account that is opened in the offshore sector. Barbados is well regulated and not in the same category as these other offshore tax havens at all. The Barbados Canada tax treaty allows the Canadian government to request information related to tax matters and receive full cooperation – http://barbadosoffshoreadvisor.com/wp-content/uploads/2011/10/Barbados-Canada-Tax-Treaty.pdf

  24. TWWIFOS

    No posts for two weeks? Have you guys closed up shop?

  25. Bajan Abroad

    fuh true yeah- wunna quiet quiet

  26. Anonymous

    have you guys not heard! they have been bought out by a Trinidadian news agency,

  27. Rastaman

    everything gone silent,just like the Government

  28. what a pity,you mean no more teefing and money laundering???
    not good!.

  29. The Oracle

    BFP, CLOSE DOWN YOUR LAPSED SITE…PLEASE! WUNNAH JESS LIKE 4 SEASONS.

  30. Barbados Fraud Press

    So many important issues going on in our society at the moment, you have a big following that support your site, you guys don’t even have the decency to let us know what is going on? what a shame as it looks like your supporters are taking up residence at Barbados underground.

  31. The Oracle

    “Tourism is dying”…well BFP IS DEAD. YOU SLUGS.

  32. The Oracle

    when is d phu
    meral mudduhkonts?

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