Opposition MP Dale Marshall is suggesting the Government introduces a new Limited Partnerships Bill to Parliament.
Marshall, who was contributing to the debate on the International Business (Miscellaneous Provisions) Bill in the House of Assembly this evening, suggested that if the Government intended to enact any new legislation that brought international business to Barbados, he would like to see the Limited Partnerships Act.
“. . . after six years, obviously going on seven, I was delighted that we actually have a piece of legislation that was going to change the face of service providers and how we deal with international business. It has caused many transactions to be scuttled, where simply because you did not have an international business licence renewed, you couldn’t close,” he noted.
However, the Opposition MP suggested that the fault was not with the service providers, but with the International Business Unit.
He said the unit could not keep up with the renewal of licences. He also accused the Government of cutting the budget of Invest Barbados between 2010 and 2012, the agency which was responsible for bringing millions of dollars into the island.
Marshall noted, though, that only recently it “grudgingly” increased the vote when it realised Barbados was falling “way way behind”.
The former attorney general also told the House there was much praise during the 2013-2014 Estimates Of Revenue And Expenditure debate about Government’s Foundation Legislation, but up to this day, not a “single foundation” has been established in Barbados.
He also said that no one has yet promoted this country in Denmark or Greenland, two of the countries with whom Government has boasted of having double taxation treaties.