โ† Back

Your message to the BLOGMASTER was sent

panama_leaksThe International Consortium of Investigative Journalists (ICIJ) just released the latest tranche of information for public consumption as part of the Panama Leaks investigation. Of interest to Barbadians is that a browse of the information on the Panama Leaks website reveals the following linked to Barbados domicile:

  • 35 Offshore entities
  • 47 Officers
  • 14 Intermediaries
  • 57 Addresses

Here is the link to the Barbados page.


Discover more from Barbados Underground

Subscribe to get the latest posts sent to your email.

163 responses to “The Business Blog – Panama Papers Investigation Updates Barbados Information”

  1. Well Well & Consequences Avatar
    Well Well & Consequences

    Crusoe…and changes to legislation will benefit world populations…and not just the greedy few, let’s hope those changes start in the UK on Thursday, it’s time some fairness and balance is introduced instesd of constant inequality…causing poverty and suffering to the most vulnerable, lack of jobs and all these contrived recessions.

    Paying 1.5% in taxes for over a decade is unconscionable…upgraded worlwide legislation will establish a balance.

    Again, if the named companies exposed by intelligence agencies whom they cannot sue for libel given the circumstances of the exposure, are found not to be money laundering, tax evading or drug and gun running….am sure not all yhe companies are sinners or saints…lol…their names will be cleared, but until then, they are are all under suspicion because of whom they all chose to register their shell companies with and the jurisdiction they all chose to register those companies in…those eere informed choices.

  2. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    David

    Panama could never be well regulated if it is operating in this capacity to support illegitimate business dealings. But, but, but butttttt, there must have been something that attracted these numbered named businesses to those shores. One can only assume that the perks were sweeter. But, butt, butt, buttttt, you are right David, doing business offshore, in this case banking your money in an offshore account as oppose to the country in which your business is set up, does make one wonder – BIG TIME, why there and not the country where the business is generating its earnings. Again, what possibly could have been the attraction?


  3. Is it possible that the Panama servers were hacked by the TSA or similar government agency with the sole purpose of exposing this whole tax avoidance/tax evading network?


  4. @SSS

    To be clear here is the BU comment you responded to:

    Panama is not a well regulated jurisdiction when compared to Barbados.

    @Fearplay

    It is possible although it is laughable the level of IT security this company, as reported, employed to protect their data.

    http://fortune.com/2016/04/09/bad-security-panama-papers/

  5. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    I doubt very much if these servers were hacked. I am not saying that it is not impossible, but hardly unlikely. This information was leaked from the inside, and rightfully so. It has proven who the real tax haven countries are and that all the pretend to be honest are as dishonest as the devil trying to be play God.


  6. why there and not the country where the business is generating its earnings. Again, what possibly could have been the attraction?
    +++++++++++++++++++++++++++++++++++
    Because in home countries, busybody bank clerks inevitably tell of your huge deposits, your sudden win falls, and even the source of the checks deposited….
    shiite man….. copies of such cheques have even been known to show up in the strangest of car parks….

    Wunna alright yuh!!!
    …a fellow cannot even give his mother a mother’s day gift of $5M without it being all over the place….

    Ugh Ugh!!!
    Panama bozie….
    …or Gernsey.

  7. millertheanunnaki Avatar
    millertheanunnaki

    @ David May 10, 2016 at 4:35 AM #
    “Panama is not a well regulated jurisdiction when compared to Barbados.”

    And if that is so how come there is so much trepidation about Barbados being “blacklisted” by the EU and other OEDC members?
    Barbados should be rejoicing if its regulatory framework is that top of the line and see itself as well positioned to โ€˜poachโ€™ some of that โ€˜legitimateโ€™ business away from Panama and the other rogue jurisdictions.

    If the Bajan regulators are so cocksure about the integrity and competence of their jurisdiction why should their PM express the following fear?

    โ€œThere are reports that in the wake of the so-called Panama Papers, the prospect of another list looms. I trust that this will not materialise and that the European Union has by now recognised that the financial services sector is a vital element of the economies of a number of Caribbean countries, touching their very existence.โ€

    The affects of the CLICO scam and the political directorateโ€™s purposeful failures to bring to justice the perpetrators run much deeper and wider than you think. Confidence in the regulators in these emerging banana republics is at an all time low.

    If only the EU officials would be honest with the lads. Maybe it is a ploy to weaken the case of any application for reparations that has been emanating from the โ€˜twistedโ€™ mouths of some Caribbean politicians.

    Maybe there is more in the mortar than just the pestle.
    This fear factor offers the perfect opportunity to find a saleable scapegoat for the pending financial time bomb about to explode over Barbados. Find $500 million in forex within the next 6 months to feed the beast of conspicuous consumption or the countryโ€™s ass is grass and the lawnmower is of the IMF brand.

  8. Well Well & Consequences Avatar
    Well Well & Consequences

    For who is interested, it started with an ongoing investigation into Fonseca’s activities within the US, snowballed and escalated over a period of a few years where some geniuses found a way to get the information….I cant for the life of me understand why those fly by nighters in Barbados would think themselves invincible and if they are doing nothing wrong, they have no worry, they will be cleared…until next time.

    Friendel needs to show more substance, this eggs all in one basket=broken eggs.


  9. Is it merely coincidental that CGI comes up as an address on there separate occasions, in this leaked document?


  10. @Well Well & Consequences May 10, 2016 at 5:19 AM #

    “The Tisch on the list is connected to Gildan.”

    How so?

    Don’t see a Tisch listed as Director of Gildan.

  11. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Artax

    As clear as crystal. Barbados is going to get tested and that second list that you alluded too, is going to be the clincher that will verify the brag of our intelligence and the shady backroom arrangements that cannot hide no longer, now that Panama has open the box that once belong to Pandora.

  12. Well Well & Consequences Avatar
    Well Well & Consequences

    Google Tisch real estate and that he either once served or still does as one if the heads, I will find it for you if you don’t. ..I saw it last night.

  13. Well Well & Consequences Avatar
    Well Well & Consequences

    Dont see it anymore Due….the dude’s name was Edward Tisch I dont know if you noticed but some information has been removed from the list and some websites taken down or made inaccessible, it only took a few hours…lol

  14. Well Well & Consequences Avatar
    Well Well & Consequences

    http://ow.ly/psfF3004N3y

    There is the info, the dudes name is Edwin Tisch.

  15. Well Well & Consequences Avatar
    Well Well & Consequences

    http://ow.ly/idnS3004NDU

    Here is where you see the name, lots of documents to peruse to find it, but it’s in this one.

  16. Well Well & Consequences Avatar
    Well Well & Consequences

    Due Diligence turns out Edwin Tisch is a co founder if Gildan, there is also an Edward apparently.

    Three months ago, Greg Chamandy was basking in Bay Street’s praise for his display of selflessness, that rarest of qualities.

    Mr. Chamandy, his brother Glenn, and Edwin Tisch — three co-founders of Gildan Activewear — had just announced their plans to give up control of the company. The trio would convert their multiple voting stock to ordinary one-vote shares, giving them an equal say with the public investors who owned almost 80 per cent of the company. Those investors approved in the most meaningful way — with their money — and bid up the stock 9 per cent in a week.

    Even hard-to-please types had kind words. “I think they’re to be congratulated,” Montreal investment manager Stephen Jarislowsky said at the time. “It’s an excellent move in the right direction.” Receiving praise from Mr. Jarislowsky for sound corporate management is like having the Pope commend you for being a good Catholic. And the three men were happy to play along, declaring their move “an effort to promote best practices in corporate governance.”

    How do you like it now, Gildan shareholders?

    Today, it looks like it was all just a way to grease the wheels for a massive insider sale. Last week, Greg Chamandy and Mr. Tisch effectively cashed out almost all of their Gildan stock in a so-called equity monetization deal that will bring the two men more than $120-million.

    There’s nothing wrong with the insiders taking some money off the table. But all of this seems to be a bit much.

    At the start of the year, the three Gildan insiders owned about 21 per cent of the company, but controlled all of the multiple voting shares, which carried eight votes each. That gave them about two-thirds of the voting rights, enough to fend off acquirers and ensure control of Gildan’s board, along with regular stock option grants that proved to be worth millions of dollars to company executives.

    For all of its flaws, though, the arrangement had one advantage for minority shareholders. A trust agreement among the Chamandy brothers and Mr. Tisch said they couldn’t sell their controlling stake in Gildan unless all the other shareholders were offered the same deal — in other words, unless someone offered to take over the company.

    When the three gave up their multiple voting shares, the trust agreement went out the window. They could sell at any time, and they had a liquid market for their previously locked-up shares. It was only a matter of time before the Chamandy brothers cashed in a few chips.

    Still, the magnitude of Greg Chamandy’s sale is remarkable. He is effectively selling 99 per cent of his stake in the company he founded, yet keeping his title as chairman and head of the executive committee. Mr. Tisch is selling 91 per cent of his stake. The method is clever, too. Rather than selling their shares outright, he and Mr. Tisch have entered into complicated contracts that allow them, technically, to retain legal ownership of the shares, while passing on the risk to someone else.

    What it means is that the three co-founders own less than 10 per cent of the company — yet still have 21 per cent of the votes, no longer enough to control the company but certainly enough to make life difficult for any potential acquirer. That’s corporate democracy, Canadian-style, and it sure makes Gildan’s fuzzy words about corporate governance ring hollow.

    vox@globeandmail.ca

    Report Typo/Error


  17. @ Crusoe,
    Please forgive me for displaying such rash ignorance. I now know the difference between avoidance and evasion – at least, I think I do. One is legal and is justifiable whilst the other is technically illegal – at least, I think so. Waiter forget that cup of tea; make mine a stiff glass of whisky.


  18. WW&C

    Thanks for the link to the 2003 Annual Information Form, but it is a bit dated.

    That 2004 Globe and Mail article is interesting. Sounds like the Chamandy brothers and Edwin Tisch — three co-founders of Gildan Activewear were/are very shrewd businessmen. But, nothing to say they are/were criminals or income tax evaders.

    If they received praise from Stephen Jarislowsky, it is little wonder they are able to pay income tax on US$309 million @ 1.5%.

    But back to recent data.

    Gildan Activewear Inc ย GIL is a public company with Headquarters in Montreal, Quebec, Canada.

    Gildan does have a small manufacturing facility in Montreal, and two in the US; but the bulk of its manufacturing is done in Honduras (4 facilities), Nicaragua (3 facilities), Dominican Republic and Bangladesh.

    Gildanโ€™s sales in Fiscal 2015 were US$3 billion.

    Gildanโ€™s pre-tax earnings in Fiscal 2015 were US$309 million

    Gildan paid income taxes of US$4.5 million in Fiscal 2015

    Its subsidiary companies include Gildan Activewear SRL in Barbados.

    Gildanโ€™s facility in Barbados is responsible for all the marketing, sales, sales support and administration functions required to drive the corporationโ€™s worldwide sales and growth initiatives. Every customer worldwide submits their purchase orders either electronically or facsimile or even by telephone through our Barbados office where each order is processed, analyzed against forecast, credit approved and eventually released for shipment to one of our strategically located distribution centres around the world.

    Its shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.

    The companyโ€™s affairs a managed by a Board of Directors comprised of prominent Canadian and American business leaders for the benefit of its (mainly) Canadian and American shareholders. See list of Board members at link below.

    http://quote.morningstar.ca/Quicktakes/Insiders/Insiders.aspx?t=GIL&region=CAN&culture=en-CA&sub=4&ops=clear

    Clearly, the shots are called by the Can/Am Board, and the bookkeeping/accounting are funneled through Gildan Activewear SRL in Barbados, so that its income taxes are minimized through the Canada/Barbados tax treaties.

    In addition to Gildan Activewear SRL, Registered: 24 August 1998, a Corporate Affairs and Intellectual Property Office search showsย the following companies are also registered in Barbados. GILDAN (LAS AMERICAS II) SRL, GILDAN (LAS AMERICAS) SRL, GILDAN ACTIVEWEAR (CENTRAL AMERICA) INC.,GILDAN ACTIVEWEAR (MEXICO) INC., GILDAN ACTIVEWEAR DISTRIBUTION, INC., GILDAN ACTIVEWEAR DOMINICAN REPUBLIC TEXTILE COMPANY INC. GILDAN ACTIVEWEAR PROPERTIES (BVI) INC., GILDAN ACTIVEWEAR PROPERTIES (DOMINICAN REPUBLIC) INC.

    Just to make sure all the bases are covered.

    Barbados apparently benefits from the receipt of the bulk of the US$4.5 million income taxes paid by Gildan, and employment of a few hundred people at Gildanโ€™s Barbados facility.

    Canadaโ€™s treasury is deprived of the income tax revenue that would accrue to it from Gildan were it not for the Can/Bar income tax treaty.

    DD can find nothing to suggest that Gildan is evading income tax or is committing any criminal activity.

    Gildan is avoiding income tax based on interpretations of applicable tax laws, including income tax treaties between various countries in which the Company operates as well as underlying rules and regulations with respect to transfer pricing; but is not evading income tax until proven otherwise.


  19. DD suggests this to be mandatory reading for the PM, MOF and GCBB.

    Whether Barbados is a tax haven or low tax jurisdiction, dey comin to get ya financial services sector.

    And as the PM saidโ€œHarm to that sector unleashes a sequel of negatives economic and social impacts on our development efforts which cannot be easily repaired, and which undermine legitimate initiatives at alternative options for development to replace those of oldโ€

    Better be prepared.

    https://www.thestar.com/news/world/2016/05/09/tax-havens-serve-no-useful-purpose-say-more-than-350-leading-economists.html

    By MARCO CHOWN OVEDStaff Reporter

    Tax havens serve โ€˜no useful purpose,โ€™ say more than 350 leading economists

    As the revelations of the Panama Papers continue to grow, economists called on world leaders to move toward โ€œending the era of tax havens,โ€ Monday.

    Tax havens โ€œserve no useful economic purposeโ€ and their โ€œveil of secrecyโ€ should be lifted, say more than 350 of the worldโ€™s leading economists in an open letter made public in the wake of the Panama Papers revelations.

    The letterโ€™s signatories, which include celebrity economists like Jeffrey Sachs and Thomas Piketty, as well as professors at Harvard, Oxford and the Sorbonne, denounce tax havens because they contribute to global inequality.

    โ€œTerritories allowing assets to be hidden in shell companies or which encourage profits to be booked by companies that do no business there, are distorting the working of the global economy,โ€ state the experts. โ€œWhilst these jurisdictions undoubtedly benefit some rich individuals and multinational corporations, this benefit is at the expense of others.โ€

    Search the database here: ICIJ Offshore Leaks Database

    The economists say the Panama Papers investigations, which were carried out in Canada by the Star and CBC/Radio-Canada, have revealed that โ€œthe secrecy provided by tax havens fuels corruption and undermines countriesโ€™ ability to collect their fair share of taxes.โ€

    And while estimates put the cost to Canadian tax coffers at between $6- and $7.8-billion per year, the effects on developing countries is far greater, said Haroon Akram-Lodhi an economist and professor of international development at Trent University.

    โ€œThe amount of capital flight from sub-Saharan Africa is absolutely huge and itโ€™s all going into these tax havens,โ€ said Akram-Lodhi, one of the signatories of the letter. โ€œThis is reducing the ability to fight poverty on a global scale.โ€

    Got a tip, or see a name you recognize? Email panamapapers@thestar.ca

    The letter, made public on the eve of this weekโ€™s global anti-corruption summit in London, calls on world leaders to take action against financial secrecy both in tax havens and at home.

    โ€œTo lift the veil of secrecy surrounding tax havens we need new global agreements on issues such as public country-by-country reporting, including for tax havens. Governments must also put their own houses in order by ensuring that all the territories, for which they are responsible, make publicly available information about the real โ€˜beneficialโ€™ owners of company and trusts.โ€

    On Monday, Transparency International Canada issued a parallel call for the Canadian government to make its own corporate registry more transparent.

    โ€œThere is a pressing need for the Government of Canada to take concrete steps to address the ability of some Canadians to shield themselves, and their financial activities, from Canadian authorities,โ€ said Peter Dent, president of Transparency International Canada

    โ€œThat some can rig the system to hide their wealth, whether amassed legally or not, is not merely unjust; it also masks corruption and harms global development by siphoning off revenues that could be directed to education, health care and infrastructure,โ€ Dent said in a statement.

    While the growing movement to crack down on tax havens has been spearheaded by the richest countries through the Organization of Economic Cooperation and Development (OECD), the negative effects of depleted government revenues hit the poorest countries the hardest.

    Uganda, an East African country which has often been described as a โ€œdonor darling,โ€ remains stuck in a cycle of poverty largely due to its inability to provide state services, said Akram-Lodhi.

    โ€œThey donโ€™t collect enough tax (because) multinational corporations evade their fair share,โ€ he said.

    While the UK government collects 25 per cent of its GDP in tax revenue, Uganda is only able to get 11 per cent, according to World Bank statistics.
    Instead of having to wait longer for a new subway, low tax revenue has far graver consequences in the developing world, he said.

    โ€œTax avoidance in Canada doesnโ€™t lead to people going hungry. Tax avoidance in sub-Saharan Africa leads to people dying of hunger. Itโ€™s that clear,โ€ Akram-Lodhi said. โ€œItโ€™s criminality that ruins peopleโ€™s lives.โ€
    Another signatory of the letter, Peter Dietsch, an associate professor of philosophy and economics at the Universitรฉ de Montrรฉal, said the Panama Papers have โ€œopened a window of opportunity for action.โ€

    Describing the underlying conflict over tax havens as being between people who have capital and those who donโ€™t, Dietsch said anti-tax haven forces are growing.

    โ€œThereโ€™s now a growing coalition of individuals without capital who pay their taxes and small and medium enterprises who donโ€™t have resources to move their assets abroad.โ€

    THE LETTER

    Dear world leaders,

    We urge you to use this monthโ€™s anti-corruption summit in London to make significant moves towards ending the era of tax havens.

    The existence of tax havens does not add to overall global wealth or well-being; they serve no useful economic purpose. Whilst these jurisdictions undoubtedly benefit some rich individuals and multinational corporations, this benefit is at the expense of others, and they therefore serve to increase inequality.

    As the Panama Papers and other recent exposรฉs have revealed, the secrecy provided by tax havens fuels corruption and undermines countriesโ€™ ability to collect their fair share of taxes. While all countries are hit by tax dodging, poor countries are proportionately the biggest losers, missing out on at least $170bn of taxes annually as a result.

    As economists, we have very different views on the desirable levels of taxation, be they direct or indirect, personal or corporate. But we are agreed that territories allowing assets to be hidden in shell companies or which encourage profits to be booked by companies that do no business there, are distorting the working of the global economy. By hiding illicit activities and allowing rich individuals and multinational corporations to operate by different rules, they also threaten the rule of law that is a vital ingredient for economic success.

    To lift the veil of secrecy surrounding tax havens we need new global agreements on issues such as public country by country reporting, including for tax havens. Governments must also put their own houses in order by ensuring that all the territories, for which they are responsible, make publicly available information about the real โ€œbeneficialโ€ owners of company and trusts. The UK, as host for this summit and as a country that has sovereignty over around a third of the worldโ€™s tax havens, is uniquely placed to take a lead.

    Taking on the tax havens will not be easy; there are powerful vested interests that benefit from the status quo. But it was Adam Smith who said that the rich โ€œshould contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.โ€ There is no economic justification for allowing the continuation of tax havens which turn that statement on its head.

  20. I. Brathwaite Avatar

    Being a Bajan comes with a built in superiority complex. We punch above our weight so often that we is real hard-seeds. Panama is a fancy place wid all sorts of big buildings and economic might. We may be better than them because the US has never invaded our country and by force of military might kidnap a sitting President – illegal though he was at the time.

    Apparently we believe that our off-shore facilities are above bored and sophisticated like those fellas in Sweden…and dat we well regulated because we is little England. Whereas dem is just a bunch of puta Spanish whores who got shafted before and getting properly screwed again. All right den.

    But I ain’t worry bout nah Panama papers cause nobody bout here give one ratted shite about that fancy tax avoidance or tax evasion. It’s too much frigging taxes pun eva blose ‘n skirte that which we worry about.

    The PM will do what the small rabbit cunt he wants to do and not a fella can do a thing. He does screw who he want, when he want and where he want.

    He ain’t got to send nah 2nd Airbourne or nah 6th Team Seal to kidnap nah body.

    You think that the prof at the university was mekking sport when he called de man the capo di tutti capi.

    Panama Papers my smooth baby backside!


  21. @ DD,

    The Canadian political parties are likely doing their dd to ensure that their major supporters and “donors” are not going to suffer from the abolition of tax haven or low tax jurisdictions.


  22. I. Brathwaite wrote ” we is real hard-seeds ”

    Haven’t heard that “Bajan term” since the 70s.


  23. @I. Brathwaite May 10, 2016 at 1:22 PM #

    “The PM will do what the small rabbit cunt he wants to do and not a fella can do a thing. He does screw who he want, when he want and where he want.”

    The PM may screw any Bajan he want, but in the this tax haven/offshore/low tax jurisdiction war he caynt screw the big boys.


  24. Hants

    The Canadian politicians read the papers and know the way the wind is blowing on this issue, and will act accordingly.

    And, unlike Barbados, Canada does have limits to which donors (or to use the Bajan phrase “Well wishers”) may donate.


  25. Barbados is known to have the heaviest concentration of Canadian funds in the Offshore sector. Any radical change to stem or retrieve monies will decimate out economy. The upside is that it will force us to come up with other ways to produce GDP.


  26. David

    How may Gildans are there in Barbados for low tax reasons, and how many Bajans are employed by them?

    This is pretty scary.

  27. NorthernObserver Avatar
    NorthernObserver

    Hence the newest of terms being spewed “aggressive avoiders”.

    All these postings point to another truth “aggressive self interest”.

    The systems are broken. Everywhere.

    The world talks about climate change as being a global problem. Well so is taxation. The level of global indebtedness is proof.

  28. Well Well & Consequences Avatar
    Well Well & Consequences

    Someone with a brain in the offshore sector who can see beyond and above libel suits.


  29. @ Due Diligence who wrote ” Canada does have limits to which donors (or to use the Bajan phrase โ€œWell wishersโ€) may donate.”

    Corporate Canada and rich Canadians influence politics in Canada.

    http://www.theglobeandmail.com/news/politics/ellisdon-affair-hasnt-tipped-the-balance-on-ontario-campaign-finance-reform/article14597254/

  30. Well Well & Consequences Avatar
    Well Well & Consequences

    I am so happy for them all, eveyone is now scrambling, how nice.

    https://panamapapers.icij.org/20160411-cameron-parliament-reform.html


  31. WW&C

    SPIN SPIN SPIN

    THE PANAMA PAPERS scandal can work in favour of Barbadosโ€™ international business and financial services sector.

    While a negative spotlight is now being shone on offshore financial centres like Barbados in the wake of millions of confidential client documents at a Panama law firm being leaked, a senior official of the Barbados-based international business company, J&T Bank and Trust Inc., is seeing positives from the scandal.

    Speaking recently at Invest Barbados during the launch of J&Tโ€™s 20th anniversary celebrations, Jacqueline Inniss, head of the companyโ€™s trust and corporate department, said the Panama Papers could be an opportunity for Barbados to attract more international business.

    โ€œBecause Barbados is a well regulated jurisdiction, clients have confidence in Barbados, and I see it as an opportunity. We can use this Panama Papers [issue] to our advantage,โ€ she said.

    โ€œOur clients are primarily high net worth or ultra-high net worth individuals, or persons with an active business . . . .

    The J&T group manages about US$10 billion in assets

    It employs about 20 people.

    Barbados International Business Association executive director Henderson Holmes congratulated the company for the contribution it has made to Barbados over the last 20 years.

    WHAT CONTRIBUTIONS? ABOUT 20 JOBS?

    HOW MUCH OF THE US$10 BILLION IN ASSETS ARE INVESTED IN HARD PRODUCTIVE ASSETS IN BARBADOS?

  32. Well Well & Consequences Avatar
    Well Well & Consequences

    The full addresses are very interesting though.

    https://offshoreleaks.icij.org/search?c=&cat=3&e=&j=&q=Barbados&utf8=%E2%9C%93

  33. Well Well & Consequences Avatar
    Well Well & Consequences

    I look at it a little differently to JT, the only positive will be change in worldwide legislation, they will have to pay more taxes if the idiot politicians were not so low rent on the island, they would see the positive and insist on more tax benefits to the island, now that yhe offshore sector is now open and hanging…they gotta be thousands of offshore companies on the island, most being Canadian anf none want to return to a 25% tax base. That’s where the positive comes into play.

    The offshore sectors definitely do not produce enough jobs in Barbados to make any significant dent in unemployment anywhere else either, the ones who do hire in the thousands look for slave labor markets.


  34. @Well Well & Consequences May 10, 2016 at 2:56 PM

    Wonder how this one made out?

    FOUR SEASONS HOTELS (BARBADOS) INVESTMENTS LIMITED

  35. Well Well & Consequences Avatar
    Well Well & Consequences

    Due…are they in the Panama Leaks line up too, I missed that one…lol


  36. @ Due Diligence,

    By MARTIN REGG COHNProvincial Politics Columnist
    Fri., May 6, 2016

    “An early draft of proposed reforms, unveiled Thursday, shows early promise โ€” and suggests the governing Liberals are belatedly getting the message.”

    The influence will continue.


  37. @David “The upside is that it will force us to come up with other ways to produce GDP.”

    Got it!! Race track at Vaucluse!


  38. @Peltdownman

    The BU household does not have all the solutions however a pragmatic approach is required. The old emotional arguments will not pay the bills.


  39. @ David a good start is Agriculture / food production to replace imported food.

  40. Well Well & Consequences Avatar
    Well Well & Consequences

    Keep dreaming Betsy…ya will soon see lazy politicians ploughing the fields…lol


  41. Goodbye offshore financing; hello the narcotic’s trade.

    We no longer KNOW what the definition is of making an honest dollar in Barbados. Let’s face it our leaders lack creativity and will seek the easiest avenue to raise money. Just follow the white lines.

    Sorry to sound negative.


  42. @Exclaimer May 10, 2016 at 5:04 PM

    On a more positive note, the newest cash crop grown in Barbados can be used as medical marijuana in Ronald Jones’s new offshore medical schools

  43. Georgie Porgie Avatar
    Georgie Porgie

    CAN YOU GIVE US DETAILS OF HOW THEY WILL DO THIS SIR?

  44. NorthernObserver Avatar
    NorthernObserver

    @DD
    you are intelligent. you think the politicos cannot find a way around?
    I miss PUDYR, hope he is ok. But a lil story.

    Several years back, a known developer sued a branch of government. The govt lawyers saw it ‘without merit’ and replied as such. A few yeas later in a shuffle of responsibility, the sued govt branch has a new home. Lo and behold, the suit resurfaced, had much merit, and to avoid what the new govt lawyers felt would be a larger possible payout should it go to court, settled at 75% of the original claim. (seen as a win?) Well the developer owner was a known ‘party supporter’. When the next election came around, several candidates from the party held functions in locations rented and catering paid by corporations which are subsidiaries of the suing company, under the guise of business functions expensed by those subsidiary companies.

    Now who ultimately paid?

    Wealthy persons, either directly, or via a company, host many events under the guise of ‘marketing’, when it is really to benefit a political candidate. They also provide persons on their payroll gratis.

    Creating new rules are simply a few new hurdles, which they already likely know how they will circumnavigate them. If not, the strategy company who finds a way, will become the politico’s new best friend.


  45. @NorthernObserver May 10, 2016 at 5:44 PM

    I too miss de ole man, and hope he returns soon.

    I referred in a post above to Ronald Jonesโ€™s new offshore medical schools.

    In thinking about it, it strikes me that the offshore medical schools should come under Donville’s Ministry, cause Jones has his hands full dealing with the teachers and candy wrappers; and we would not want him crackin any heads of the offshore students or faculty.


  46. @ GEORGIE PORGIE

    “Under the proposed system, there would be one ambulance each to service the northern, eastern and some parts of western Barbados, to improve response times.

    http://www.nationnews.com/nationnews/news/81072/ambulances-qeh#sthash.ZGywhUvA.dpuf

The blogmaster invites you to join and add value to the discussion.

Trending

Discover more from Barbados Underground

Subscribe now to keep reading and get access to the full archive.

Continue reading