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Barbados To Clamp Down On Tax Evasion

by Amanda Banks, Tax-News.com, London

24 May 2007


The government of Barbados plans to establish a new Central Revenue Authority in order to assist in the crackdown on corporations who are "robbing" the country, according to Minister of State in the Ministry of Finance, Clyde Mascoll.

Addressing the Inter-American Centre of Tax Administrations (CIAT) General Assembly on the island earlier this week, Mascoll said that the Land Tax, Inland Revenue and the Customs and Excise Departments would be merged to concentrate enforcement and boost revenues.

"The aim is to remove existing administrative fragmentation in the system, which proves to be contributing to non-compliance, improve co-ordination between functions, including efforts of enforcement, as well as to improve the delivery of service to the customer," he stated.

He went on to observe that: "The practice of trying to escape paying taxes is even more sophisticated and elusive, where corporate entities such as multi-national corporations or global enterprises misuse tax treaties and use a system of transfer pricing that go contrary to international legitimate tax minimisation arrangements."

The CIAT conference is being attended by 135 delegates from approximately 37 countries, who will discuss ideas and network to develop effective taxation policies. The theme of the 2007 General Assembly is ‘Key Structural Aspects of the Tax Administrations’. Over the four-day meeting, three key aspects of tax administration are being discussed, namely: The Organisational Structure; Models of Relationship of the Central Tax Administrations with other Collection Institutions, Structural Change in Modern Tax Administrations, and Human Resources Management.

A comprehensive report in our Intelligence Report series giving background tax and residence information on many of the key offshore jurisdictions is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report4.asp

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