OECD: Barbados fails tax transparency standards

Review part of crackdown on money laundering & tax havens

Measures on tax transparency in Barbados still do not meet international standards, according to The Global Forum on Transparency and Exchange of Information for Tax Purposes, hosted by the The Organisation for Economic Co-operation and Development (OECD).

“In studies of 10 countries released on Thursday, it found that Barbados, the Seychelles, San Marino and Trinidad and Tobago did not have legislation in place to fully share information on tax matters with international partners.”

Reuters Africa story: Barbados, San Marino, others still not tax transparent

Further Reading

OECD Global Forum on Transparency

January 27, 2011 Information Brief (PDF)

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13 Comments

Filed under Barbados, Business & Banking, Corruption, Freedom Of Information, Offshore Investments

13 responses to “OECD: Barbados fails tax transparency standards

  1. West Side Davie

    It looks like the international community is catching on to Barbados ‘saying’ but never ‘doing’. We used to get full marks for agreeing to make changes and they never checked back to see if we made the changes. What are we going to do now? LOL!

  2. Westport

    Tax Information Exchange Agreements (TIEA) are being made between countries now and odds are that Barbados is going to be under increasing pressure to comply. That is, if they want all that money to keep flowing into this country so that the bigups can collect their fee, um, er, I mean tax for the citizens. It’s a joke.

  3. Capt. Nobody

    Must be a reason why most of developed Countries still keep most of Caribbean islands on a “black list” despite OECD decisions.
    Offshore banking is equal hiding money (visit any offshore website and you can understand what they mainly do), so as far as Barbados will keep offshore companies, like many other islands in the region, no transparency will be possible. But the poor idiot at the airport with few hundreds dollars in the pocket will be still arrested for “money laundering”. Pathetic.

  4. Johnny Postle

    Capt. Nobody

    Ya spot on ma bruddah. Ignore the bigger crime and the length of time they have been doing the crime and go after the little fella so it looks like we totally against money laundering. Pathetic indeed

  5. watcher

    If the big ups cant figure out Clico and how dey going to figure all dis out. yep bury de treasure on de pirate island…it will be safe forever as long as its a big amount

  6. 78

    Ah boy…appearance is all in Buhbayduss.

    It’s all about the veneer,
    never mind the lack of real substance and enforcement below the polished surface.
    Ha ha!

    Well..dat mindset worked for a good long while, but Push coming to Shove
    in dis weird world of the 21st.Century, and things are increasingly different nowadays.
    We may be forced to stop playing teenage pretend-games

  7. Green Monkey

    If the big ups cant figure out Clico and how dey going to figure all dis out. yep bury de treasure on de pirate island…it will be safe forever as long as its a big amount.

    True, true. After all, nobody en find out yet where Sam Lord buried he treasure after all dese years.

  8. Bubados I come from

    It’s a big game and we’ve been successful so far looking like we’re concerned about money laundering and tax evasion but the truth is that’s how we make our living. If we didn’t have offshore banking this place would still be like it was 40 years ago.

    Now that I think of it, maybe that wouldn’t be a bad thing.

  9. Capt. Nobody

    Correct ” Bubados”! We all know …and the “big ones” are aware about the shyte going on and this why Obama…. etc etc

  10. Bollockssey

    The OECD ‘how to grab back taxes that could go into our own coffers’ is trying its best to money grab in this difficult time.

    Same game as always.

    Has anyone asked about Lichtenstein, Zurich, etc? Ha ha. information exchange my xss.

    By the way, most international funds go via London, Tokyo and New York.

    Old mafia is now legit, did you not know.

    What about Delaware, Vermont and Las Vegas? Where does the cash from Las Vegas come from? Little old ladies? Lol

    Naive as the day they wuz born.

    PT Barnum was right indeed.

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