The key fiscal problem of developed countries is the unprecedented rapid rise that is expected in the total dependency ratio (young + old as a proportion of the working age groups) from about 48 per cent now to 57 per cent in 2025 and 73 per cent in 2050. In 1950, incidentally, it was 54 per cent.
And we are not a tax haven; companies operating in Barbados, including IBC’s, are liable to pay corporation tax. We are seeking new opportunities to strengthen IBFS activities, with the exploration of new markets in Latin America, Africa, the Middle East and elsewhere.