Daily Archives: April 4, 2013

Tax Havens under fire in massive new leak of hidden offshore accounts

Caribbean-bank-money_laundering

Washing money, Hiding money

contributed by “M”

Unlike the mainstream media in Barbados which seems disinclined to report on the financial shenanigans of its politicians/public figures (except the $75,000.00 cheque), the media in Canada has no such hesitation, as seen at the attached link to CBC website.  Other major media in Canada are running with the story. While 38 media outlets around the world are probing the data leaks reported in the material reported in Canada by CBC, I do not expect to read about it in the Barbados papers.

Canadian CBC: Senator’s husband put $1.7M in offshore tax havens

Canadian CBC: 450 Canadians in offshore leak

Yahoo! Finance: Report exposes secrets of offshore tax havens

While Barbados does not figure prominently in this and related CBC articles, I think Barbados authorities should be concerned.

Barbados is the third largest recipient of Canadian outward Foreign Direct Investment, after the USA and the UK; with the principal industry being “financial services”, which I expect is mainly in “offshore” accounts. Canadians are believed to to be the largest depositors in Barbados offshore bank accounts.

It may well be the case that all of those a legal.

Notwithstanding, with the spotlight being shone on the issue of  “offshore accounts” and “tax havens”, and Canadian Finance Minister Jim Flaherty’s pledge in last week’s budget the government will bolster its efforts to fight offshore tax evasion, including launching a new whistleblower line that pays rewards for tips, improving compliance programs and demanding more information on certain financial transactions; it seems likely that some Canadians “investors” will choose to repatriate their foreign direct investments to Canada rather than face the scrutiny for Canada Revenue Agency

Not Taken

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Filed under Barbados, Business & Banking, Economy, Offshore Investments

NexCyx wins Ryan Seacrest’s contest!

American Idol host Ryan Seacrest compiled a list from YouTube of his favourite Maroon 5 covers for his “best Maroon 5 cover” contest. It turns out that NexCyx from little Barbados won the contest with 60% of the popular vote.

Well done! (An we hope BFP’s article sent them a few votes. Cliverton – can you tell us how many we sent?)

NexCyx WINS!

“Nexcited!”

It’s the only way to describe how local band Nexcyx feels after officially being announced as the winners of the RyanSeacrest.com March Music Madness contest for their version of Maroon 5′s Moves Like Jagger.

When online polls for the final had closed, NexCyx had earned more than 60 per cent of the vote. They beat four other artists and groups to take the top spot.

… full story at Barbados Today

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Filed under Celebrities, Music

Ping Yark’s newest edition here… and it’s free!

Mottley Arthur Barbados BFP

Ah yes – Ping Yark is here. The latest edition of that irreverent UK newsletter for home sick Bajans.

You can download it here… Ping Yark Barbados

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Filed under Barbados, Politics