Barbadian Minister Suggests Tougher Policy Needed On Tax Compliance

by Amanda Banks, Tax-News.com, London

19 April 2005

Deputy permanent secretary in the Barbadian Ministry of Finance and Economic Affairs, Esworth Reid has revealed that the government is about to get tough on the issue of tax evasion, telling businesses based on the island that they are obliged to pay their fair share of tax at all times.

In a speech delivered on the opening day of the Tax Fair at the weekend, Mr Reid attempted to appeal to the conscience of businesses by urging them not to deprive the public purse of revenues through tax evasion.

“I call on you as individuals, as owners of business, small and big, as employers, all those who currently owe the Government large sums of money in value added tax and national insurance, to adopt a sense of patriotism and honour your obligations by making right with the relevant revenue collection agencies", he stated.

The deputy permanent secretary went on to suggest that a new central revenue agency may be created in order to enforce the tax system more efficiently.

“This process of strengthening the internal revenue system is of critical necessity if Government is to ensure that taxes that otherwise would be lost in evasion and avoidance in the internal revenues system, are collected to help make up for the revenue lost that is most likely to occur at the border due to the effect of a liberalised, global environment,” observed Mr Reid.

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