UK could issue tax havens blacklist, claims Hunte barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
Huge cut in tax revenue as BRA under ‘pressure’ to collect
Article by February 26, 2021
Facing a huge slump in tax revenue from the coronavirus pandemic, Government’s chief tax collector has told business accountants that “pressure” is building on the Barbados Revenue Authority (BRA) to make up the shortfall by collecting unpaid taxes.
Revenue Commissioner Louisa Lewis-Ward on Thursday put companies on notice that she won’t be afraid to enforce penalties on those who continue to fail to file their tax returns.
But even as she promised to step up the pace of paying out overdue tax refunds, Lewis-Ward declared that “on the flip side of refunds, always is the collection side”, as she spoke at the Institute of Chartered Accountants of Barbados annual tax forum.
Not the last challenge from EU
Article by February 26, 2021
Although rejoicing that Barbados has been removed from the European Union’s (EU) so-called blacklist, Minister of International Business and Industry Ronald Toppin remains sceptical of the political and economic bloc, saying he sees a rough road ahead due to expected continued shifts in goal posts.
At the same time, one of Barbados’ lead tax negotiators is predicting that the island could come up against taxation and sanctions on the quickly growing digital economy.
Speaking on Thursday at the annual tax update seminar hosted by the Institute of Chartered Accountants of Barbados (ICAB), Toppin said he remained optimistic the country would be able to overcome future obstacles relating to tax compliance.
Transformation the keyword for Caribbean, says Straughn barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
Acting Permanent Secretary in the Ministry of Finance, Octavia Forde (left) and Minister in the Ministry of Finance, Ryan Straughn, receive the cheque for the Adopt Our Families Programme from ICAB President, Lydia McCollin (second from right) and Executive Director, Kathy-ann Hewitt.
Government’s Adopt Our Families programme has received an injection to the tune of $15,000.
On Thursday, President of the Institute of Chartered Accountants of Barbados (ICAB), Lydia McCollin, and Executive Director, Kathy-ann Hewitt, presented Minister in the Ministry of Finance, Ryan Straughn, with a cheque to assist those vulnerable households which have been severely impacted by the COVID-19 pandemic.