Marshall: International business exodus

estimates2013dalemarshallSt. Joseph MP, Dale Marshall, has charged that there has been a mass exodus of international businesses from Barbados.

He also charged that corporation tax has plummeted and the number of workers employed in the sector had dropped substantially.

The former Minister of International Business levelled these charges at the Freundel Stuart Administration earlier today while speaking on the 2013-2014 Estimates.

Marshall told the House of Assembly that one international business which contributed $20 million to the Treasury had left the country without the knowledge of former Minister of International Business, George Hutson.

The former Attorney General said that Minister of Finance, Chris Sinckler, had attempted to stem the outward flow of international businesses.

Noting that there was a cut in the allocation of funds to Invest Barbados, Marshall queried how the country would attract additional businesses, and complained that the Government had signed double taxation treaties with some countries to meet a minimum number of registrations, fully conscious that no business would be done with the countries.

The St. Joseph MP identified the Czech Republic and Iceland as two of the countries with which Barbados had signed double taxation treaties and asked if any business has been done with them.

He asked too how many companies had been established in Barbados since the signing of the double taxation treaties.†(NC)

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