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Barbados might amend laws to allow insurers to register domestically. (captive insurance industry)(includes related article on Barbados' plans of amending its insurance law)(Captive Report)
Business Insurance
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April 27, 1998|
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COPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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BRIDGETOWN, Barbados - The Barbados government may be moving closer to resolving tax questions that have kept the development of Canadian-owned captives in limbo for the past three years.
Growth of Canadian captives - one of the domicile's largest sources of business - slowed markedly after 1994 Canadian tax reforms denied tax benefits to companies that were not "residents" of Barbados. To qualify as a resident, a captive has to be subject to local taxation.
The Barbados government responded in late 1995 by amending its insurance ...
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