International Business
The last three years have been challenging for all sectors of the Barbados economy and the international business sector has been no exception. However, there are encouraging signs that the sector is on the way to recovery, certainly in terms of the number of international business entities that have been incorporated during 2010. In addition, it would appear that a large percentage of the existing international business entities have renewed their licenses for 2011.In This Section
U.S. Senate’s Passage of Anti-Tax-Haven Provisions Would Be Counterproductive
Reprinted from Tax Notes Int’l, April 9, 2012, p. 139 On March 8, 2012, the U.S. Senate passed an amendment to the highway bill, the America Fast Forward Financing Innovation Act (S. 1813), that would provide more mechanisms for the …
Foreign Account Tax Compliance Act (FATCA): US Tax Compliance Goes Global
Evolving from the aftermath of September 11th were two related priorities of the U.S. Government that have given rise to increased international tax compliance rules and enforcement procedures for US taxpayers: (1) prevention and prosecution of the financing of terrorist …
The Future of Barbados as an International Business Centre: A Canadian Perspective
The Golden Age For many years, Barbados was the tax treaty country where the foreign affiliates of Canadian corporations could generate exempt earnings while suffering the lowest domestic income tax rate through the use of International Business Companies (IBCs). As …
Barbados Is an Ideal Regional Hub for Doing Real Business
“The combination of Barbados’ location, legal and regulatory framework, tax incentives and treaties, as well as its skilled workforce and infrastructure, make the island the perfect regional hub for conducting real business.”
Choose Barbados: The Smart Choice for All the Right Reasons
“Barbados can be the smart choice for today’s investors because we can provide the right values, the right business environment, the right people, the right services, the right attitudes and the right results.”
Enhanced Business Facilitation in Barbados: A Key Pillar for International Business
“Business facilitation is a key pillar on which Barbados can build on its path toward becoming the premier international business centre in this hemisphere.”
International Tax Enforcement Continues to Rise
Multilateral Developments There are many multilateral developments regarding international tax enforcement, especially regarding the OECD, the Financial Stability Board (FSB), and the Financial Action Task Force on anti-moneylaundering (FATF). OECD Tax Transparency The work of the OECD’s Global Forum on Transparency and Exchange of Tax …
Surviving the War on IFCs: An Update on Barbados’ Tax Treaty and Other Initiatives in Response to the OECD and G-20 Attacks
Of all the steps towards the entry into force of a tax treaty, the process of ratification is perhaps the most difficult to predict and complete. In the normal course of things, after the successful negotiation of a treaty the …
An Effective Social Partnership: Barbados’ Saving Grace
Experience from the last major recession, 20 years ago, has provided Barbados with a helpful framework for negotiating solutions for survival and future success. The average citizen may be feeling the pinch and there is still much concern about the …
Is an NIS Funds Investment in the Four Seasons Development Appropriate?
Having witnessed the ups and downs of the Barbados economy for 41 years it is clear that the current crisis is certainly the worst we have experienced in that time, with no easy victories in sight and lots of hard …
Barbados’ Budget Boosts The International Financial Sector
On August 16, 2011, Christopher Sinckler, Barbadian minister of finance and economic affairs, delivered the Financial Statement and Budgetary Proposal for 2011, which contains a number of initiatives to strengthen the international financial services sector.¹ Attracting High-Net-Worth Individuals The statement revealed that amendments are …
Barbados ‘BBB-/A-3′ Ratings Affirmed; Outlook Remains Stable
Overview Barbados’ economy is slowly recovering from the global financial crisis, and we expect real GDP growth of 2% this year. Fiscal measures passed in December 2010, together with constrained expenditures, are helping to stabilize the fiscal accounts. The general …
Find Professional Services firms in our business directory.
Is your business listed?Register your business and benefit from greater exposure through one or more of our highly targeted industry categories. Get listed!
Ben Arrindell - Director, Consultant Cidel Bank & Trust Inc.
Ben is a director of Cidel, currently consulting on business and product development opportunities utilizing Barbados' treaty network. Prior to joining Cidel, Ben was an international tax and managing partner of Ernst & Young, Barbados. In this capacity, he provided international tax services to international clients, including many major multinational companies and high net worth individuals. Ben has over 25 years of experience in both the UK and Barbados. Ben has served as adviser to the Barbados Government since 1998 on double taxation treaty strategy, the development of new legislation, and the impact of international tax developments on the Barbados International Business Sector. In this capacity, he was a member of the Barbados Government team that negotiated the removal of Barbados from the OECD's list of tax havens in 2000. Ben participated in Barbados' tax treaty negotiations with a number of countries including Canada, China, Italy, Spain, Mexico, the Netherlands, Luxembourg and the US. Ben has made a significant contribution to the development and amendment of new and existing legislation in Barbados. He is currently a member of: The United Nations Committee of Experts on International Cooperation in Tax Matters, The Barbados Government's Joint Policy Working Group and spearheaded the Group's Strategic Planning Subcommittee which developed the Barbados International Business Strategic Plan 2007-2012, The CARICOM Working Group on Fiscal Policy, The Barbados Government's Working Group on the Economy, The Barbados Government's Council of Economic Advisers, and The Board of Directors of the Barbados Private Sector Association of which he is also the Chairman. Ben is also a frequent speaker worldwide on international tax matters.
Facebook
Linkedin
Twitter