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

3 Comments

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

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

  1. Adrian Loveridge

    Of course there is a history on waivers. On 27 June 2006 after GEMS (the taxaper) had spend $40 million enlarging/refurbishing Silver Rock Hotel, the then PM (Owen Arthur) waived the Property Transfer Tax on the sale to Silver Point Villas Ltd.

  2. NYCBGI

    AS USUAL ITS JUST ANOTHER FAILING OF THE BTA ETC. TRYING TO RESTORE THE TOURISM INDUSTRY. YET THEY HAVE NOT PAID BTA EMPLOYEES WHO ARE DISABLED THE PENSIONS AND COMPENSATIONS THAT ARE DUE, THOSE GOVERNMENT EMPLOYEES OVERSEAS HAVE WORKED DILIGENTLY TO PROMOTE BGI AND THE BTA HAS PUSHED THEM IN A CORNER TO SURVIVE UNTIL THEY FIND THE MONEY TO PAY THEM. SHAME SHAME ON THE BTA AND THE GOVERNMENT BY LETTING THOSE EMPLOYEES LANGUISH UNTIL THEY FIND THE MONEY TO PAY THOSE WHO HAVE BEEN FAITHFUL IN PROMOTING BGI

  3. Party Animal

    I know of one fellow/Company who put up $16 Million don’t know who got it, maybe BDLP