Canada puts the tax squeeze on Barbados offshore corporations. Barbados puts on Happy Face!

Barbados Smiles Happy Face

Barbados puts on a happy face and buries in the press release that offshore secrecy between Bim and Canada is a thing of the past…

The Protocol amending the Agreement between Canada and Barbados for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and Capital is now in effect. It entered into force on 17 December 17, 2013.

“On November 8, 2011, Canada and Barbados signed a Protocol to amend the 1980 DTA. This Protocol, among other things, now allows entities operating in the international financial services sector to benefit from a number of provisions in the Treaty, including the provisions on residency. In addition, such entities will now be covered under the new comprehensive exchange of information provisions which now meet the OECD standard.

Barbados values the mutually beneficial and long standing relationship with Canada and welcomes this development as it will further concretise Barbados’ principles of transparency and substance. Through our network of tax treaties, it will further solidify Barbados’ commitment to international best practices on the exchange of information.

Read the full story: Barbados Prime Minister: Protocol Takes Effect


Filed under Barbados, Canada, Offshore Investments

10 responses to “Canada puts the tax squeeze on Barbados offshore corporations. Barbados puts on Happy Face!

  1. Jeri

    had to happen. but now what do we do? there must be other jurisdictions that still maintain secrecy. will the offshore customers transfer funds to those places?


    But when will the people of Barbados transparency?. When money is involved that is the only time things seem to move , The only thing that get the attention of this DBLP Massive Fraud government ,
    We also love the see some transparency in the Ministers own Banking , and source of FUNDS will be also good to see.
    No time soon for that dealing with Crooks , Liars and Scumbags members of the DBLP


    Jeri @We will do better with clean business that fraud business, Records seem to show that crooks dont stay in business long. There time is at and end very soon. Let them take it who cares , that way there is nothing to buy off the lawyer with nor the Ministers ,Barbados will not go after money crooks , but there home Nation Will, We need not Madoff and Standfords on this Island ,Off shore only help crooks and we seem to have plenty of them , Let them starve.

  4. D Oracle.

    There will always be other jurisdictions who will maintain secrecy about offshore business but would you want to live there? And how do you know they won’t steal your money? A dog that brings a bone, carries one.

  5. St George's Dragon

    I thought Barbados has been saying that there is no secrecy in the off-shore business sector and that we are not a shady tax haven. If that is the case, this changes nothing.

  6. just asking

    Why do the people of Barbados still believe their politicians, can’t they see no of them are truthful? Look at the PM with the workers that were sent home, now blaming some one else for that. The same people they employed for the past 3 to 4 years, so that they could win an election will now have to go home, it’s as simple as that, & wanna en’t see nothing yet wait until wanna have to pay for care at the QEH ha! ha! ha! people that suppose to be educated, & still so ignorant in their thinking.

  7. yatinkiteasy

    Im sorry, I really did not mean to fire you. Its the head of X department that got it all confused…anyway, whats done is done …so go home, do nothing and collect unemployment benefits from NIS…its about 60% of what you earned anyway for doing very little work…you should be happy….and look at how much Money you and the other 299 will be saving the country…why it is about enough in a year to pay all the ministers salaries for a week or so
    It is very patriotic of you.
    Good Bless

  8. Mark Fenty

    Daivid, your cognitive indeficiency has impaired your ability to comprehend that partiality of opinion leads to self – righteousness.

  9. Party Animal

    A $100.00 bill can buy nuff fools

  10. iabingy

    Air pollution nine-times deadlier than car crashes, UBC study finds
    Monday, October 21, 2013
    VANCOUVER – Chronic exposure to air pollution causes nearly nine times as many premature deaths in Canada as traffic crashes, University of B.C. researchers say in an article published Monday in the Canadian Medical Association Journal.
    About 21,000 Canadians die prematurely from the ill effects of air pollution each year, compared to 2,400 from traffic crashes.
    The article is timely, coming as it does on the heels of last week’s declaration by the World Health Organization that air pollution is a carcinogen. Diesel fumes were previously deemed cancer-causing, but this is the first time air pollution as a whole has been classified as carcinogenic.
    In their provocative commentary in CMAJ, Michael Bauer and co-researchers Conor Reynolds and Perry Hystad said there’s an accumulating body of evidence showing negative health effects from traffic-related air pollution. They suggest various actions that may be taken, including copying European cities that levy fees on cars in congested areas to reduce traffic.
    Brauer, a professor in UBC’s school of population and public health, has spent years doing research on traffic-related air pollution and its effect on human health; much of it supported by grants from Health Canada.
    Air pollution is mainly associated with asthma, other lung conditions and cardiovascular diseases. Exhaust fumes from diesel, a known carcinogen, are tied to lung cancer. A 2008 federal report estimated that on an annual basis, there are 306 premature deaths, 1,158 hospital admissions, and 8,763 emergency department visits related to air pollution in B.C.
    Nearly a third of the country’s population lives within 500 metres of a highway or 100 metres from a major urban road, exposing them to toxic fumes from more than 15,000 cars per day, according to the CMAJ report. Such air pollution triggers “inflammation, oxidative stress and imbalance in the autonomic nervous system” which includes heart rhythm disturbances.
    The commentary highlights various options to help reduce the ill effects of traffic-related air pollution:
    • Reduce emissions by reducing traffic congestion and expanding infrastructure for electric cars.
    • Limit truck traffic to specific routes and separate cycling or walking routes from busy roads.
    • Improve land-use planning and traffic management by placing schools, daycares and retirement homes at least 150 metres from busy streets.
    Cities across Europe are leading the way when it comes to improving air quality and reducing vehicle emissions. London was the first major city in the world to introduce a congestion zone fee of 10 to 12 pounds for vehicles entering the city centre on weekdays. The fee has reportedly resulted in “an estimated gain of 183 years of life per 100,000 residents within the zone over a 10-year period,” Brauer said.
    Those who fail to pay the fee face a fine of 130 pounds.
    In Rome, the establishment of low emission zones has been estimated to have resulted in an even greater benefit: 921 years of life gained per 100,000 residents living near major roads over ten years. Brauer said Vancouver’s downtown area isn’t as congested as many large cities around the world but there are streets such as West Georgia, Knight and Kingsway that have plenty of congestion affecting air quality.
    “Situations like that are certainly of no benefit to anyone, whether we’re talking about drivers or residents,” he said in an interview.
    Asked to comment on the CMAJ article, Mayor Gregor Robertson agreed that reducing car congestion to improve air quality is an important goal.
    “Building a rapid transit line along Broadway is the key to reducing vehicle congestion and improving air quality in Vancouver. There are over 150,000 daily car trips along central Broadway and it is the busiest bus corridor in North America,” Robertson said in an email.
    “With a million more people moving to the Metro region in the coming decades, we simply can’t accommodate future growth by adding new cars and roads.”
    Dr. Menn Biagtan, program manager for the B.C. Lung Association, said in a previous interview: “We breathe 20,000 times a day, that’s 10,000 litres of air passing through our lungs – much of it a toxic soup of pollutants.”
    The WHO’s cancer agency, International Agency for Research on Cancer – said in 2010, there were more than 220,000 lung cancer deaths associated with air pollution around the world. The most polluted cities are in China and India where people often wear masks for protection.
    Sun Health Issues Reporter

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    Traffic pollution a health risk for one-third of Canadians, doctors say