Donna Wellington, President, Barbados Bankers’ Association (BBA).
Submitted by Caswell Franklyn, General Secretary, Unity Workers Union

It is no secret that I believe that the present DLP administration is bad for Barbados. Now it appears that this view is shared by the Barbados Bankers’ Association (BBA). They have announced that due to a “lack of clarity” on the process involved in the issuance of tax clearance certificates by the Barbados Revenue Authority (BRA), banks had to suspend real estate transactions. As a result, banks have suspended approximately $221 million worth of real estate related transactions.

I could be wrong but I don’t believe so; to my mind, that announcement is double speak to say that the Government is bad for business and they are prepared to take short term losses to help rid the country of this DLP administration.

I firmly believe that the announcement is a calculated move to influence political change. When the banks put pressure on potential borrowers and blame their actions on the BRA, those borrowers would become angry with the Government. People who could not get loans would not be happy with the DLP and come voting time that anger would be reflected in the results.

Even though I believe that the BBA and I share the view that the DLP is bad for business, I deplore the method adopted by them. They should be patriotically urging taxpayers to pay their fair share of the tax burden that is being heaped upon the people of this country.

I would advise the Barbados Bankers’ Association to stay away from involvement in politics on the sly and be honest enough to declare their hand.

147 responses to “Barbados Bankers’ Association the New Third Party?”


  1. @ David BU

    Will you be posting recordings of the budget speech and the reply to the budget?
    I would love to hear both, but unfortunately I will be on the road at the times of the
    live broadcasts on Tuesday and Wednesday coming.


  2. Impressive. Could this be a sign of the new government?

    http://www.project.yantradigital.com/2016/barbados/virtual-library/


  3. The recording are usually posted on parliament’s website. There will be no problem accessing audio.

  4. Caswell Franklyn Avatar
    Caswell Franklyn

    Wily Coyote

    You obviously did not understand what I am saying. I am not blaming the banks for any problem with tax clearance certificates. I am saying that there was absolutely no need to stop lending for real estate. The banks want to bring down the Government and they have decided to put pressure on borrowers, while blaming Government for their decision. Those angry customers who could not access financing would blame the Government and cast their votes against them at the next election.

    If they want to bring down the Government, I have no problem with that. I have a problem with them being dishonest about it and putting pressure on potential borrowers, making them pawns in their greater scheme of things.

    Sent from my iPad


  5. @ Caswell
    Wily Coyote…..You obviously did not understand what I am saying..
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++
    Not Bushie nor….

    If we have a government that is doing shiite altogether…
    If the tax clearance certificates is yet another idiotic obstacle in the way of modern business…’
    If Stinkliar REALLY do not understand decimals…
    If the financial situation is dire ….and getting worse daily..

    ….WHAT THE HELL IS WRONG WITH WANTING TO ‘BRING DOWN THE GOVERNMENT”?
    ….and what is wrong with going about bringing down the government without ACTUALLY broadcasting that aim? …you ever heard of “subterfuge”?

    When those dastardly four ministers attempted to defraud the treasury via their CAHILL scam …did they ANNOUNCE that they were looking to pump about $100M of our tax monies inter their various mother’s bank accounts? ….or did they tell us that we either needed a CAHILL type waste system or we were all going to die? …subterfuge….!!

    When the Froon had signed on the dotted line – did he ADMIT signing off on the CAHILL deal? …or did he use subterfuge and claim ignorance?

    When YOU cannot get your way in bullying employers …. do you ‘admit’ to trying to sabotage his business…. or do you use subterfuge and tell the workers that they are not feeling well and urgently need some sick days off….??

    Try and leave the bankers do!!

    If you want something to worry about …then consider the results we will have when our NON-local banks become the revolutionary leaders in the NEEDED coup…..
    Who do you think will end up leading Barbados in the post-coup period? foreign money-centric absentee owners – just like our great great grandparents experienced….

    But the VERY last man in BB-land to complain should be you – having decided to ignore BUP, and to waste your precious talents in your little silly ‘unity’ games…. leaving albino-centric foreign bankers to fill the national void.


  6. The BU household is of the firm view that the banks are privy to Information not yet in the public domain.


  7. Yes. Like BRA does not even return phone calls, nor answer letters, not in a day, not in a year. maybe never.


  8. @Hal Austin May 27, 2017 at 3:55 PM “Is Carson C. Cadogan on the electoral register or in the telephone directory?”

    https://www.findyello.com/Barbados/carson-c-cadogan/search


  9. @Caldwell

    I understand your argument, however Canadian banks are more than a little concerned about governments total disregard about Central Bank(Goverment) operating FINANCIAL RULES and the dangers to their(banks) viability. Bank warnings maybe a first step to their closing Barbados operations and Caribbean operations as well.

    You and all Barbaians should be asking the QUESTION…. What would happen to Barbados finances if the Canadian banks close.


  10. Caswell and not Caldwell ?


  11. @ David
    Anyone who cannot rationalise decimals CANNOT be expected to lead sensible changes to complex legislation. Every single thing that this government, and this MoF in particular, has done has demonstrated that these people are incompetent, retarded and imbecilic …and that is the optimistic view, ….because the alternative option is that they are Demon-possessed (in which case they would likely have built a monument or some such shiite, somewhere…. )

    Bushie gave up COMPLETELY when Stinkliar seriously wanted to “buy an abandoned hotel for nearly $100M; …spend millions more to demolish it; ….. borrow $500M from China to rebuild the same shiite hotel; ….. and then GIVE it away to a foreigner – one who had thumbed his nose at Barbados for YEARS and was best known for pissing up and down Paradise beach… ”

    Mayers sounds just like the typical half-baked lawyers that come outta Cave Hill… Lotta mumbo jumbo shiite talk that misses the fundamental issues.

    Tax departments are intended to be ENFORCEMENT AGENCIES. They have the legal, political, and infrastructural resources to collect taxes – or to make defaulters pay an appropriate price via confiscation, jail-time, or just plain public embarrassment.
    BRA is a COMPLETE FAILURE in this regard – just like the shiite minister that created it…

    Now rather than fire the jokers who have been ineffective at BRA, his ‘solution’ is to tinker with complex laws that his retarded mind CANNOT comprehend. …. just like he did with the tipping fee fiasco, the solid waste deal with Bizzy, the Sugar industry, The BL&P sale, and every other shiite that he has touched.

    The most amazing aspect of this whole debacle is that so many ‘educated’ Bajans continue to be duped by this set of idiots – and even the (genuinely) esteemed Caswell fails to see that the Bankers have at last taken a RATIONAL stand against the lotta shiite…

    It is called RIGHTEOUS INDIGNATION…. and is why Jesus had to kick some asses in the temple with the damn money changers….
    Now things are so bad ’bout here, that it seems that the ‘money-changers’ are the ones having to kick ass….

    BBBBBB!!


  12. @Bush Tea

    It is why BU has been careful to suppress the urge to bash the banks. We forget that other players have voiced concerns about the clarity of the tax clearance change.

  13. Caswell Franklyn Avatar
    Caswell Franklyn

    Bushie

    If nothing else, you give me a good laugh. I particularly like when you said that things around here are so bad that it is the money lenders kicking ass, but you seem to miss my point. And that is: the bankers are being dishonest. You might like subterfuge to achieve your goal but that is the difference between us.

    Sent from my iPad

  14. Vincent Haynes Avatar
    Vincent Haynes

    Tax departments are intended to be ENFORCEMENT AGENCIES. They have the legal, political, and infrastructural resources to collect taxes – or to make defaulters pay an appropriate price via confiscation, jail-time, or just plain public embarrassment.
    ……………………………………………………………………………….

    Bushie……….Well stated plain and simple.

    All that is required is for the next government to organise a system for identifying and collecting outstanding monies owed and forget this foolishness.


  15. @ Caswell
    Name a banker – ANY BANKER!! – who has ever been other than ‘dishonest’…. 🙂
    You ever see how sweet they smile when you sign on the dotted line…?

    It is what they do boss….
    So our only real difference is that you seem to want them to different in this particular case…
    Bushie is a realist… whackers whack… and Bankers ‘bank’… LOL

    As Wily is trying to tell you, those damn bankers are actually warning Stinkliar “We have a contract with your signature on it…that allows us to sell off your house REAL cheap….
    Either do something about that BRA shiite …. or call the homeless fella right now….”

    Unfortunately for us, (cause it is not Stinkliar’s house – it is OUR country) this man is still trying to figure out where the decimal point in that statement goes… (it is actually a full stop 🙂 )

  16. Caswell Franklyn Avatar
    Caswell Franklyn

    David

    I have no difficulty with the banks or anyone else seeking clarity but in doing so, it is unnecessary to shut down lending for real estate all transactions, even for persons who have tax clearance certificates.

    Sent from my iPad


  17. Man Caswell
    Go into ‘options and turn off that ‘Sent from my iPad’ signature.
    It sounds like you are bragging that you have an iPad…..
    Everybody has one boss… 🙂


  18. …and by next elections some of us will have two…
    LOL
    ha ha ha


  19. @Caswell

    You give no weight to Guy Mayer’s inquiry about the possibility of an assessment after a tax clearance has been issued by BRA?


  20. Simple Simon,
    We know that a Carson C Cadogan exists. Is he the same person who writes such reactionary stuff on BU? If so we can shout him out.

  21. Caswell Franklyn Avatar
    Caswell Franklyn

    David

    If the Government gives its word to a third party saying that you are not indebted to the Government that third party ought to be able to rely on the Government’s word. Government cannot come back and say oops.

    My only problem so far would be in a case where a person is indebted to Government and is trying to sell a piece of land to settle his indebtedness. He can’t sell because he does not have a tax clearance and he can’t get a tax clearance unless he sells the land in order to clear his indebtedness.

    Sent from my iPad


  22. @ Hal
    We know that a Carson C Cadogan exists. Is he the same person who writes such reactionary stuff on BU? If so we can shout him out.
    ++++++++++++++++++++++++++++++++++
    Why?
    Who the hell cares?

    What stops some idiot from becoming another ‘Hal Austin’ here on BU ?
    (except David of course 🙂 )

    Lets just ignore ALL nonsense — eventually CCC will get the hint ..and then make the kind of intelligent contributions of which he is clearly capable.


  23. I did not think it was possible for the Barbados government – BLP and DLP – to slow the pace of business and transactions in this country any more, but here it is they fooled me again. Can we get any closer to dead stop when it comes to relations between the civil service and the citizen? They boasted about computerisation speeding things up, but with their lack of interest in maintenance it now takes longer than when it was all done by hand.

    BLP and DLP – OUT!! OUT!! OUT!!

    Come on, guys, it is time for NEW BLOOD to have a chance to show us what they can do – I seriously doubt they could do any worse than these two retarded and entitled geriatric elephants swapping places every five years.

    These so-called “Labour” governments now no longer give a rat’s a$$ about labour, socialism or average citizens, all they care about is themselves and their own wallets.

    OUT!! OUT!! OUT!!


  24. @BimJim

    Many agree with you. The government is in charge and it is under their watch that we continue to see a decline in business facilitation, competitiveness and the like. The MoF needs to stop blaming others and get the job done. Clearly the BRA has not achieved the objective for which t was established I.e. to harmonize the tax collection agencies.


  25. @Caswell at 9:29 AM …why such a merry-go-around re “… in a case where a person is indebted to Government and is trying to sell a piece of land to settle his indebtedness. He can’t sell because he does not have a tax clearance and he can’t get a tax clearance unless he sells the land in order to clear his indebtedness.”

    If it’s a forced sale to clear the tax debt then (1) wouldn’t the gov’t be the ones ‘auctioning’ or completing the deal after ‘taking over’ the property or (2) the lawyers would be mandated as a first step to clear the tax debt from proceeds of the sale.

    Essentially a ‘purchase’ is being made of the seller’s tax clearance certificate as an integral and mandatory aspect of the sale.

    Surely no bureaucracy can be so fraught with red-tape that such a simple thing becomes a stupid ‘tautology’ of self defeating non action.


  26. @David May 27, 2017 at 7:15 PM #
    The recording are usually posted on parliament’s website. There will be no problem accessing audio.

    Thanks for the information David, I was not aware.

  27. NorthernObserver Avatar
    NorthernObserver

    I have to think something is being overlooked.

    Banks shy away from liability, not from profit making opportunities. Hence there is likely something their legal beagles have found, where they see liability exposure, if certain steps are not followed.

    The Canadian banks are not known for doing anything publicly, which can be seen as meddling in politics.

  28. Bernard Codrington. Avatar
    Bernard Codrington.

    Northern Observer at 3: 36 pm.

    Canadian banks are generally risk – averse. They tend to be overcautious in their lending and investment practices. And that includes taking political risks. It is the main characteristic that kept them virtually immunized from the derivative market. I therefore agree with your observation.


  29. @de pedantic Dribbler May 28, 2017 at 11:02 AM “Surely no bureaucracy can be so fraught with red-tape that such a simple thing becomes a stupid ‘tautology’ of self defeating non action.”

    Then clearly you don’t know Bajan bureaucracy.


  30. @de pedantic Dribbler May 28, 2017 at 11:02 AM “If it’s a forced sale to clear the tax debt…”

    But what if it is not a forced sale? What if I just want to come clean with BRA. Sell the property which is worth $200,000 so that I can pay BRA the $100,000 which I owe them, this debt includes property tax, VAT, municipal solid waste tax etc.

    I don’t have $100,000 cash, the bank won’t lend me any money for this real estate transaction because I can’t get a tax clearance certificate because I owe BRA. So I can’t sell, and I can’t pay my debt even thought I want to.

    Do you understand now?

    if you don’t understand read Kafka, then you will understand how our government works.


  31. I know a few BRA people, and I know a few Inland Revenue people, some retired, some currently working for BRA, some who have left BRA because there is no way they would be caught dead working there under this current administration and these people all foresaw the conundrum which would occur with the legislation/regulation as it is.

    It is not working, because it can’t work.


  32. This is the same government which was unable to implement fingerprinting at the ports because the legislation/regulation was written in such a way that the government made no provision for a Bajan returning to Barbados who refused to be finger printed.

    I came on this blog and asked what would the government do to such a person.

    Send them away? And if the Bajan had only Bajan citizenship where did the Barbados government plan to send these refusers?

    Permit them entry without the fingerprinting, then would that not defeat the purpose of the law?

    Permit them entry and jail them? And how long would the government jail a citizen for a civil offense? For life? And who would pay to keep the refusers in jail?

    So the law /regulation was not implemented because it could not be implemented as written, unless the government thought that any other government wold take in Bajans when the Barbados government refuses to do so.

    Cabinet needs to sit down with their very smart senior technocrats and LISTEN to sensible experienced people.

    Or they can do what the U.S. Internal Revenue Service does, Once a court order is made to collect money or money’s worth from a delinquent tax payer send an armed IRS agent out to collect the money, or seize the car or lorry or whatever.


  33. The technical staff at BRA anticipated this problem, this conundrum. I am not sure if they did not tell the Finance Minister, if the Finance Minister did not listen or whether he did not understand.

    So don’t blame BRA for this one. There is no need to fire anyone at BRA but perhaps the time has come when the people will need to fire the Finance Minister, the Prime Minister, and the whole Cabinet, and the one or two back benchers.

    Imagine using a rusty old Collins to solve a problem when what you need is a skilled surgeon and the finest scalpel.


  34. Caswell to be fair we have to label the Bar a third party as well.

  35. Caswell Franklyn Avatar
    Caswell Franklyn

    Everybody knows that. They have always been. I merely called out the Bankers’ Association because they were lurking in the shadows and doing their political business.

    Sent from my iPad

  36. Vincent Haynes Avatar
    Vincent Haynes

    BAR, BRA FACE-OFF
    THE BARBADOS REVENUE AUTHORITY ACT may be challenged in the law courts if it isn’t repealed.The Bar Association, at an extraordinary meeting of its membership last…
    nationnews.com
    http://www.nationnews.com/nationnews/news/97259/bar-bra


  37. Bernard,,
    The elephant n the room in this nonsense is that the ban on residential lending by the foreign-owned banks is clear evidence of a cartel in operation. Cartels are illegal in every civilised country. What is the minister/regulator/police going to do about it?
    Stop the nonsense about the BRA, that is a side issue.

  38. William Skinner Avatar
    William Skinner

    This discussion bears out the fundamental problem we have; everything is seen through narrow political lens. Here we have banks, literally attempting to grind an already precarious economy, to a halt by making a unilateral decision to stop servicing ALL citizens because they have a problem with what are simply the teething problems of new tax collection methods. To embarrass a government, and further destroy the economy, we are asking for the legislation to be scrapped because citizens must be allowed to do as they please , without making any contribution to the treasury.
    Suddenly, the banks that have been doing a number on us with all kinds of excessive service charges, are to be seen as the new gatekeepers. Banks that are known to discriminate against black business people; and are not willing to engage in any progressive policies outside of fleecing a very gullible public. Eric Williams or Errol Barrow would have had them gone within forty eight hours for this high handed nonsense.
    On the other hand we have a legal fraternity , some of whose members have dealt some serious financial blows to citizens, who entrusted them , to handle real estate and other financial matters, masquerading as angels of light.
    The comedy must be a precursor to crop over.


  39. Simple Simon May 29, 2017 at 12:15 AM #

    “I know a few BRA people, and I know a few Inland Revenue people, some retired, some currently working for BRA, some who have left BRA because there is no way they would be caught dead working there under this current administration and these people all foresaw the conundrum which would occur with the legislation/regulation as it is.”

    @ Simple Simon

    I agree with your above comments. Over the years, I became familiar with many Inland Revenue officers because I had to communicate and interact with them when I’m acting on behalf of clients.

    Many of the former Inland Revenue employees told me the one of the main reasons why they opted not to work with the BRA is because the current Revenue Commissioner, Margaret Sivers, expertise is not taxation, as was the expertise of former Commissioner of Inland Revenue, Sabina Walcott-Denny, who is much more qualified for the job.

    Unfortunately, based on my experience, many of the new BRA officers are not au fait with taxation issues and often give conflicting advice. They cannot give, for example, proper information on filing tax returns for partnerships, and it is only recently that filing could be done on-line.

    Advice from the old staff IR that remained is not taken into consideration. Government prefers to hire consultants, such as one who was paid $15,000 per month for over one year, to implement a new computerized system, which remained “troublesome” at the time his consultancy was over.

    Another issue I have with the BRA is a female security officer who is stationed in the lobby. This guard does not have any manners, is very rude to customers and not suitable to interact with the public. Numerous complaints about her behavior have not been acted upon, evidenced by the fact she remains at that station and her behavior has not changed.

    As Barbadians would say, the BRA “began before it was ready.”


  40. @ Simple Simon

    Despite the BRA’s “indiscretions” you can’t be over critical of them in this situation.

    I have mentioned numerous times in this forum that operators of public service vehicles (B, BT, H, HL, Z, ZM, and ZR) have to apply for tax and NIS clearance certificates from the BRA and NI Department respectively, before they can pay the relevant road taxes.

    My experience with applying for these tax clearances for clients is that the process takes no more than 10 minutes. During this time an officer checks the system to verify if the applicant filed an income tax return and payment taxes due are outstanding. If the applicant satisfies these two requirements the certificate is printed and signed by a senior officer and you are on your way.

    I don’t believe tax clearance for real estate would take an inordinate amount of time to process, as some contributors seem to be suggesting.

    What is disturbing is against the background of charging excessive or irrelevant fees for banking transactions, it seems as though these “autonomous” banks have a self imposed authority to make unilateral decisions relative to government policy.

    What is wrong with discussing the issues with the BRA and if they are not satisfied, then take action.

  41. Carson C. Cadogan Avatar
    Carson C. Cadogan

    I just cant understand why the Barbados Labour Party and the Bar assoc. are in the forefront of trying to prevent RICH people from paying their fair share of taxes? Lawyers steal clients money every year and not a word of condemnation is heard from the Bar Assoc.

  42. Caswell Franklyn Avatar
    Caswell Franklyn

    Carson

    If you don’t understand it, you probably would never understand anything. They are most likely among the RICH people who are not paying their taxes.

    Sent from my iPad


  43. Carson C. Cadogan May 29, 2017 at 7:35 PM #

    “I just cant understand why the Barbados Labour Party and the Bar assoc. are in the forefront of trying to prevent RICH people from paying their fair share of taxes? Lawyers steal clients money every year and not a word of condemnation is heard from the Bar Assoc.”

    @ CCC

    Excellent point, CCC!!!

    Perhaps you should also mention the FRAUDULENT invoice that the law firm Thompson & Associates prepared, as reveled by the Deloitte forensic audit, which indicated a number of legal services were rendered to CLICO that were in actuality a payment for Leroy Parris, on which 15% VAT on $3.333M was NOT INCLUDED on the invoice and NOT PAID.

    Surely you must agree that, in this instance, “the (DLP) and the Bar assoc. are in the forefront of trying to prevent RICH people from paying their fair share of taxes.”

    Additionally, you are also correct in your comments re: “Lawyers steal clients money every year and not a word of condemnation is heard from the Bar Assoc,” because I cannot remember reading any comment from the Bar Association relative to Michael Carrington’s dastardly deed of with-holding (a fancy word for stealing) his wheel chair bound, senior citizen client’s funds for over two years, while blatantly ignoring his requests for the sum to be paid.

    By the way CCC, you must agree that over charging for services rendered to any government agency is essentially stealing from the Crown. Hence, I also recall not hearing a “word of condemnation” from the Bar Association where another lawyer, Richard Byer, charged Caves of Barbados $766,855.24 for services that were similarly rendered by another lawyer for $17,000.


  44. Caswell do you know if the BRA has initiated an investigation against Leroy Parris based on revelations so far?


  45. David,

    The BRA is dysfunctional and not fit or purpose. It is Chris Sinckler’s baby. In the case of Mr Parris, if the state has a case against him they must bring charges. Otherwise the whispers and public abuse are not only undemocratic, but infringes his human rights.


  46. David,
    The US interned Japanese Americans during WW2. Racism is a deep part of liberal democratic culture.


  47. It REALLY is amazing how everyone seems to give a free pass to the jokers in the BRA who fail to enforce clear and unquestioned laws to collect outstanding taxes due to the state …. and then bring pressure on OTHER citizens to do their dirty work for them.

    PLEASE tell Bushie again why bankers should be enforcing tax laws for BRA?

    Only confirmed and certified Bajan brass bowls would default to a process where ordinary citizens are required to check with the tax authorities to see who owes money so that otherwise LEGAL business can be withheld until such liabilities are settled.

    This is the IDENTICAL shiite thinking that led to the ‘tipping fee’ and the Shiite tax, so Bushie cannot fault Stinkliar for it …. cause it is obvious that he is an idiot…
    But for ‘educated’ Bajans to fall YET AGAIN for such idiocy tells the bushman that there are THOUSANDS of Stinkliars bout the damn place….

    If BRA KNOWS who is in tax compliance…and who is NOT… then Stinkliar and Snivers needs to tell the public exactly WHY they themselves are unable to do their damn jobs…
    How the hell do they get to draw their salaries every month while doing squat … and making honest people’s lives miserable…

    Lotta shiite….
    Go Bankers!!!

Leave a Reply to Hal AustinCancel reply

Trending

Discover more from Barbados Underground

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

Continue reading