Daily Archives: June 4, 2014

Barbados Government forgives $2 million in taxes from sale of Almond Beach Village – Neal & Massey must have given political donations to DLP!

kickback-bribes

Tell me this, my friends…

When was the last time the Government of Barbados forgave you any taxes owed?

Be honest… When did the guvment look the other way for you or your loved ones?

Never? Yes, that is about right.

How much did Neal & Massey donate to the Democratic Labour Party in the last three years?

With no election funding rules or transparency, nobody knows… and the political class wants it so!

The government of Barbados is expected to waive more than BD$2 million in taxes from the sale of the Almond Beach Village, the Barbados Nation reported last week, citing a PricewaterhouseCoopers report. Almond Beach is owned by the local Neal & Massy group.

According to the PricewaterhouseCoopers (PwC) report: “Management has not taken into account any amount in respect of stamp duty or property transfer tax on the sale of the transaction as they expect these charges to be waived by the government of Barbados.”

PwC added: “While we have been provided with correspondence to support management’s expectation of an official waiver, we have not been provided with statutory instruments or other audit evidence adequate to support the actual waiver. Had the stamp duty and property transfer tax on the transaction been recorded, assets held for sale, total assets, revaluation reserve and shareholders’ equity would all have been reduced by BD$2.5 million.”

… read the rest of the story at T&T Guardian: N&M to get tax waiver on Almond Resorts sale

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Filed under Barbados, Corruption, Ethics, Freedom Of Information, Political Corruption, Politics & Corruption