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Date: 09 Feb, 2011
Source: By Françoise L. M. Hendy

From April 1, 2011 Barbados will be classified as a Category 3 jurisdiction by the United Kingdom Revenue Authority properly referred to as Her Majesty’s Revenue and Customs (HMRC).

Exactly four days after Barbados’ legal regime supporting transparency and exchange of tax information was found insufficient to warrant Barbados’ passing of the OECD/Global Forum Phase I Assessment, the UK government has classified Barbados as a jurisdiction from whom they expect difficulties in obtaining information on UK tax dodgers and other tax misfeasors. Read more.