Tag Archives: Tax cheats

Barbados Minister of International Business Donville Inniss: Swiss Bank Account for your online porn business?

cropped-donville-inniss-hospital-goat.jpg

Revealed for the first time: Donville Inniss Swiss Money Connection

An interesting article in yesterday’s Nation Newspaper where Donville Inniss, our Minister of International Business, announced that Barbados is fully on board with the US and international efforts to have an automatic exchange of tax information between countries.

Some folks would say that Barbados is caving to the USA’s extortion, but others would say this is the future and welcome to it.

Of course, some folks would also question where the customers are going to come from if keeping money in Barbados is the same as having a bank account in Chicago or London. Why should anyone do their banking in Bim if there is no advantage?

“. . . My ministry has written to the secretary general of the OECD in Paris indicating that Barbados has formally committed to signing on to the automatic exchange of tax information,” Inniss said. “This is important because as a government there is somewhat of a paradigm shift in taking a position that Barbados needs to be a player, and to be seen as a major player in this international financial services sector where it matters most.”

… Nation News Bowing to Global Pressure

Barbados Sex Trafficking

What about all Donville’s porn profits?

This concern with international tax treaties is a newish thing for Pornville, er, Donville.

You see, not so many years ago, Barbados Free Press caught out Donville Inniss in the act of profiteering from online pornography.

“One of the saddest things I’ve ever seen is Orgasm.com’s pregnant woman porn section. How does Donville Inniss feel about these desperate young girls – making money for him like this?” 

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Filed under Barbados, Culture & Race Issues, Ethics, Political Corruption, Politics & Corruption, Slavery

BFP reader questions possible tax avoidance scheme by local business Harris Paints

Harris Paints Barbados

Contributed anonymously by BFP reader ‘Burning Gas Valve’

I just read the Barbados Free Press August 23, 2013 article headlined Barbados Inland Revenue fails to act on tax cheat information“.

The Inland Revenue should investigate Harris Paints who has laid off many Barbadians in recent years, “to cut costs”, but at the same time they use companies (Industrial Supplies Incorporated and Harris Paints International) registered in BVI and St. Lucia, respectively to siphon off the profits and avoid paying taxes, although the “management and control” resides in Wildey, Barbados.

This would be an easy case for the Barbados Inland Revenue to solve simply by doing a standard tax audit of Harris Paints Barbados and also at the Wildey Head Office. I will read Barbados Free Press to see if you can get the Inland Revenue to move on this case to get this company to pay its fair share of taxes.

Burning Gas Valve

Editor’s Note: Just remember folks… anonymous information isn’t to be trusted without some independent thinking and research. Take it with a grain of salt, and then let’s talk! Our readers are often able to substantiate or disprove stories. Let’s see what our readers come up with for this story.

Harris Paints operates throughout the Caribbean. From their website

The Harris Group of Companies, commonly known as Harris Paints, is one of the Caribbean’s leading manufacturers of architectural finishes, building products and industrial coatings. Continue reading

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Filed under Barbados, Crime & Law, Economy

Barbados offshore banking: meet rock and hard place…

tax cheater Barbados

submitted by Blackman

Few working class Bajans really understand the connection between our offshore banking / corporate industry and high quality tourism visitors. The downturn of mass tourism (or tourism for the masses, including cruise ship spend per passenger) is only a part of the story.

Another segment of our long-stay, high spend per visitor tourism industry is under assault because of international (primarily American) pressure to report our offshore banking clients to foreign governments.

It looks like the Barbados government is rolling over on this issue, but to be fair, what else can we do? Barbados: meet rock and hard place…

Barbados Eyes Inter-Governmental Agreement With US on FATCA

Barbados has signaled its intention to the United States of concluding a reciprocal Inter-Governmental Agreement to apply to the US’ Foreign Account Tax Compliance Act, Prime Minister Freundel Stuart said Thursday.

The Prime Minister said Barbados was “aware that an atmosphere of certainty was needed for domestic and international operators in our banking sector and other entities which met the criteria of foreign financial institutions under FATCA to thrive.”

“I look forward, therefore, to being able in the coming weeks to announce formally that the US is favourably disposed to negotiating a reciprocal Model 1 inter-governmental agreement with us,” he said. “And from our end, we will be working towards concluding agreement by year-end.”

The law requires the automatic exchange of US taxpayers’ foreign banking information. That places it in the same policy space as exchanges under the OECD, he said.  Continue reading

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Filed under Barbados, Barbados Tourism, Business & Banking, Economy