2023 March

In recent years, several Caribbean jurisdictions have been revising their IBC rules and regulations to enhance transparency and comply with international standards established by organizations like the OECD, EU, and FATF. These changes aim to address concerns related to tax evasion, money laundering, and terrorism financing. Some of the key changes in IBC rules in the Caribbean up until 2021 included:

Tax havens are jurisdictions that offer low or zero tax rates and provide financial secrecy, which can potentially be used by individuals and corporations to reduce their tax liabilities. They have historically been used to protect wealth and income from high taxes in other jurisdictions.

Life balance, often referred to as work-life balance, is the concept of maintaining a harmonious equilibrium between different aspects of one's life, such as work, personal relationships, health, leisure, and self-improvement. The idea is to allocate time and energy to each area in a way that allows for both personal and professional fulfillment, thereby reducing stress and promoting overall well-being.

What is Climate Change?

Tax planning refers to the process of analyzing one's financial situation, income, expenses, and investments to minimize tax liabilities and maximize savings, in compliance with tax laws and regulations. The goal of tax planning is to ensure that individuals and businesses take full advantage of available tax credits, deductions, exemptions, and other tax-saving opportunities.

Digital transformation refers to the process of integrating digital technologies into all aspects of a business or organization, fundamentally changing the way it operates and delivers value to its customers or stakeholders. The goal of digital transformation is to improve efficiency, competitiveness, and customer experience by leveraging digital tools and solutions.

The minimum global tax, a policy designed to establish a minimum tax rate for multinational corporations across participating countries, can assist small developing countries in several ways:

Globalization is the process of increasing interconnectedness and interdependence among individuals, businesses, and countries worldwide, facilitated by advancements in technology, transportation, and communication. It involves the integration of national economies, cultures, and societies into a global network, allowing for the free flow of goods, services, information, and people across borders.