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'Pay Your Fair Share of Taxes' Established October 1895 Locals, visitors enjoy Bajan Pride Expo Page 2 Tuesday December 8, 2015 $1 VAT Inclusive IT’S OFFICIAL! SLU BEVERAGES has giant Ambev; and ANSA McAL, just over 6.0 million BHL shares BHL,” King stated further. acquired controlling interest a Trinidad and Tobago on the Barbados Stock Exchange The two companies (SLU in Banks Holdings Limited headquartered company, were last Wednesday at $7.10 a share, Beverages and ANSA McAL) (BHL) after a very hectic locked in a see-saw struggle it increased its shareholding in were involved in a spirited bidding campaign. for control of BHL after Massy BHL to just over 50 per cent. campaign for BHL. Last week This was confirmed yesterday Holdings had sold its 13 million “The Directors have confirmed alone saw SLU Beverages by Chairman of BHL, shares in BHL to SLU that the trades have now been increasing its offer to $7.10 a G. Anthony King. Beverages last September. settled,” King pointed out. share, only to be followed by Both SLU Beverages, which is King explained that as a result “SLU Beverages, therefore, ANSA McAL, whose price went owned by Brazilian beverage of SLU Beverages’ acquisition of now has a controlling interest in to $7.20 a share. Venezuelan opposition wins legislative voting in landslide – Page 15 US Supreme Court won’t review laws banning assault weapons – Page 16 Minister of Finance and Economic Affairs, Christopher Sinckler (left), chatting with Permanent Secretary in the Division of Economic Affairs, Dr. Louis Woodruffe, during the opening of a Green Climate Fund National Sensitisation Workshop at the Grande Salle, Central Bank yesterday. ‘Pay your fair share of taxes’ MINISTER of Finance and persons to pay what is required, seen; and put it on a footing,” he will all come out how many are Economic Affairs, Christopher he said the Barbados Revenue told the media during an not paying. And if the current Roberta Foster Sinckler, says far too many Authority (BRA) will also be interview yesterday morning. legislation or current law does people in this country are not doing its part to collect what is Sinckler added, “I know there not take care of that; if the court takes top paying the taxes they should due. is going to be resistance, a lot system is not moving fast and Government is taking steps “We are going to strengthen of resistance. I’ve seen the enough to prosecute people international to ensure that this does not the tax administration; we have professionals in particular, when they are taken there, then continue. better skilled staff, higher because there are some we have to find other methods to Equestrian win The Minister contended that numbers that you can do the professionals who believe that ensure people pay their fair everyone in society has to auditing. We are going to they should not pay tax and share.” – Page 23 contribute their “fair share”, and strengthen the laws, which we there are quite a few of them so, in addition to urging those are moving to do as you have who do not and soon enough it BRA on Page 4 2 • Tuesday December 8, 2015 The Barbados Advocate Locals, visitors enjoy Bajan Pride Expo By Marsha Gittens public and from those involved in the event. THE Belfield Playing Field in Black “This is about community tourism and Rock, St. Michael was a hive of what we try to do here is try to empower activity on Saturday when the young the community. [This is, to] get people in and the old converged on the the specific community that we are in, to grounds for the Bajan Pride come out with their products, their art, Exposition. their craft and food to display them for sale An event of the Barbados Product on the one hand.On the other hand,we try Authority in conjunction with the St. to invite and pitch it to visitors to come Michael West Central Constituency into this space and hopefully the merging Council, the Expo jump-started would generate economic activity. Hence celebrations for this year’s Tourism Week, empowering the community and at the which officially began on Sunday with a same time exposing visitors to Barbadian church service. culture, food, art, craft and all the entire Consultant with the Ministry of Barbadian lifestyle. That in essence is Tourism, Hugh Foster told The what it is all about,” it was explained. Barbados Advocate that the all-day At the 24 stalls across the Playing Field, event was aimed at empowering individuals had a chance to buy locally participants, generating income for them made craft, food and jewellery. Patrons and providing visitors to the island and also engaged in domino games and danced the area with an opportunity to view and to the music played by the Q-In the purchase locally made items and Community disc jockeys.There were also experience the Barbadian culture. activities for the little ones to enjoy such Foster added that the Exposition was as the jumping tents and a Petting Corner another in the Expo series.He stated that where they could view and in some those staged in the past have received a instances touch the sheep,rabbits,chicken positive response from members of the and ducks. Matthew Dacosta Hinds, Codi Athill (in hand), Paulene Dascosta Hinds and Peter Dacosta Hinds taking a closer look at the sheep in the Petting Corner. Lorna Williams of Fancy Flavours and Creations assisting customers to that stall. It was an intense domino game going on during the Bajan Pride Exposition on Saturday. The Barbados Advocate Tuesday December 8, 2015 • 3 VAT hike for cell phones coming soon GOVERNMENT is going to be applied to all mobile airtime used by Parliament next Tuesday to change cell companies operating in Barbados. the amount of value added tax (VAT) Plans for that excise duty were revealed charged on cell phone usage from 17. in the June 2015 Financial Statements 5 per cent to 22 per cent. The new and Budgetary Proposal and was to come rate is to come into effect on January into effect this past August at a rate of 1, 2016. three cents per minute for both service Minister of Finance and Economic providers.That excise duty was expected Affairs, Christopher Sinckler told the to generate some $32.7 million in revenue media yesterday morning following the on an annual basis, while the VAT opening of a Green Climate Fund increase is expected to net about half that National Sensitisation Workshop at the figure. Grande Salle, Central Bank, that The revenue to be raised through this representatives of the telecommunication hike in VAT on cell phone usage, the companies are to meet with government finance minister said, will be collected by officials this week to discuss and work the companies and passed on to the out the technical details associated with Barbados Revenue Authority (BRA). His such a move. comments came as he made it clear that News of the increase of VAT on cell the increase in VAT is only relative to cell phone usage came late last month in the phones and is not an overall increase in House of Assembly, where he indicated VAT in this country. that 4.5 per cent increase in VAT to be “It is no indication of anything to come. charged by the telecommunications The VAT rate is 17.5 per cent and long will companies, would replace the previously it remain there as far as we can see and Minister of Finance and Economic Affairs, Christopher Sinckler delivering the proposed airtime excise duty that was to as far as I’m concerned,” he stated. (JRT) feature address yesterday morning. Gov’t focused on green economy Gardening A GOVERNMENT Minister says of electricity by 2029.The minister added (SIDS) such as Barbados. Sinckler noted Barbados has an “unparalleled that even outside of Government, that empirical evidence has shown that all competition for opportunity” to become the first Green entrepreneurs and ordinary homeowners SIDS are among the most vulnerable economy in the Western Hemisphere. are investing heavily in renewable energy communities, ecosystems and economies Minister of Finance and Economic technologies, which are not only helping to the adverse effects of climate change.He school children Affairs, Christopher Sinckler made the families and enterprises save money on bolstered that point as he referred to THE Ministry of Agriculture, Food, comments yesterday morning while energy bills, but reducing the country’s several natural disasters which have over Fisheries and Water Resource delivering the feature address at the carbon footprint on the environment. the years caused damage in SIDS within Management is inviting primary and Green Climate Fund National Sinckler made the point while noting the Caribbean. Sinckler spoke of secondary school children between seven Sensitisation Workshop at the Grande that the threat from climate change is Hurricane Luis which in 1995 caused and 17 to take part in its gardening Salle, Central Bank. This Fund, the real, serious and growing and given that Antigua and Barbuda to lose 15-25 per competition. minister said,provides an unprecedented reality, there is need for urgent action to cent of its workforce and Hurricane Ivan Students are invited to submit photos of financing window that can advance this address it. which landed on the shores of Grenada in themselves participating in an agricultural country towards climate-resilient “All the data on climate change is 2004, damaging 90 per cent of the activity at home, for a chance to win development. pointing to the fact that no nation can structures, costing the government more individual prizes,as well as prizes for their He added that while the role Caribbean escape the impact of climate change.
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