Aug. 17–23, 2012 • <strong>Caribbean</strong> <strong>Life</strong> • <strong>Brooklyn</strong>/Staten Island • Page 20Barbados to host region’slargest economic forumBy Nelson A. KingThe Inter-AmericanDevelopment Bank (IDB)says Barbados will this yearhost the 15th Inter-AmericanMicroenterprise Forum(Foromic 2012), the biggestannual microfinance andmicroenterprise developmentevent in Latin Americaand the <strong>Caribbean</strong>.The Washington-basedfinancial institution saidon Aug. 10 that more than1,000 participants areexpected to attend Foromic,which for the firsttime ever will be held inan English-speaking <strong>Caribbean</strong>country.The IDB said the Oct.1–3 event will focus on“innovative ways to unlockentrepreneurship.”It is being organizedby the Multilateral InvestmentFund (MIF), a memberof the IDB Group, incollaboration with the Governmentof Barbados.The IDB said impactinvestors and delegatesfrom financial and microfinanceinstitutions, associationsof micro-entrepreneurs,government agencies,non-governmentalorganizations, internationalorganizations, foundationsand the academiaworking in the sector willparticipate in the forum.The first day of the conferencefocuses on Barbadosand the <strong>Caribbean</strong>,with panels discussingdevelopment opportunitiesfor small businesses,microfinance, entrepreneurshipamong youthand women, and emergingbusiness from renewableenergies, the IDB said.It said the second daywill highlight innovativefinancing models for smalland medium-sized businesses,as well as expandingbusiness models to providefinancial services forthe poor beyond microfinanceto include savings.“As in previous years,the latest developmentsin microfinance are at thecenter of the event, whichwill have panels presentinglessons learned aboutthe effective use of newtechnologies in providingfinancial services,improvements in corporategovernance, and promisinginnovations in rural andagricultural finance,” theIDB said.It said the final day willfeature panels on impactinvesting as an opportunityfor the <strong>Caribbean</strong>,and ways to unlock womenentrepreneurship.The IDB said the conferencewill close with a seminaron improving clientprotection and financingmodels to finance greenbusinesses, particularlyrelated to renewable energyand energy efficiency.Caymanian expats win tax debateBy David McFaddenKINGSTON, Jamaica(AP) - The Cayman Islandsis scrapping a plan toimpose a direct income taxon thousands of expatriatesworking in the British<strong>Caribbean</strong> territory that isfamed as a no-tax financialcenter.Premier McKeeva Bushissued a terse statementlate Monday saying that hisproposed tax was “off thetable and will not be implemented.”He did not saywhat alternative revenuesmight replace it.The islands’ leader saidonly that his administrationwas “satisfied thatmany of the commitmentsfrom the private sector” willmeet his demands for a newsource of revenue for thegovernment that won’t hitthe poorest citizens. He hasbeen huddling with businessleaders in recent days.Zero direct taxation,friendly regulations and theglobal money they luredhave transformed the tinyBritish territory into theworld’s sixth largest financialcenter, with $1.6 trillionofficially booked internationalassets.Bush announced inlate July that he plannedto impose a direct tax onexpatriate workers’ incomeSept. 1 to bail the territorialgovernment out of a financialhole and to meet Britain’sdemand that Caymandiversify its sources of revenuebeyond the work permitfees, duties and otherfees it now relies on.He later said the annualincome threshold would be$36,000, which would haveaffected about 5,870 expatriates.He described it as a“community enhancementfee” rather than a tax.The proposal outragedmany people, who said thetax would be discriminatoryand could destroy theislands’ main economicanchor.On Tuesday, many expatriateswere still left guessingabout what the newrevenue measures wouldinclude.“The only reaction isconfusion as the uncertaintycontinues. At least hehas removed this one taxthat would have been ourdeath sentence,” said GrandCayman real estate brokerKim Lund, who added thatseveral deals fell throughafter Bush announced thetax plan.Some wealthy expatriateshad said they plannedto leave Grand Cayman,where accountants, lawyersand other skilled professionalswork in coastaloffices looking out on clear,blue seas.Eden Hurlston, a localman who was a vocalmember of a roughly11,000-member Facebookgroup called “Caymanians& Expats Against Taxation,”said he believes the controversyover the scrappedtax has helped people onthe islands realize they candemand more accountabilityfrom their leaders.You are Cordially Invited to Celebrate Trinidad& Tobago 50th Independence AnniversaryAugust 25th, 2012New York Marriott at the <strong>Brooklyn</strong> Bridge333 Adams Street, <strong>Brooklyn</strong>, NY 11201Cocktail: Dinner/Dancing: 9:00pm–1:00amMusic by Sunshine BandGolden Jubilee HonoreesMachel MontanoSoca SuperstarEntertainer of the Year AwardWendell Adrian MottleySenior Advisor andInvestment Banker–Credit SuisseLeadership AwardMohan JaikaranBusinessman and EntrepreneurBusinessman of The Year AwardJean LeonHumanitarian AwardGiselle Jeanne-MarieLaronde-WestFormer Miss World–1986Image AwardSonny LawrenceTATUCA’s <strong>Life</strong>timeAchievement AwardTickets $150.00 Dress Formal–Black Tie
Have You Been In AnAccident? Construction Accidents Page 21 • <strong>Caribbean</strong> <strong>Life</strong> • <strong>Brooklyn</strong>/Staten Island • Aug. 17–23, 2012You May Be Entitled To Money Damages$We have Recovered Millions$of Dollars for Our Clients*James RossFREEConsultationWilliam C. ThompsonRet. Justice Supreme CourtAppellate Division Of CounselTo the FirmArthur HillNO FEEUnless SuccessfulRoss & Hill, Esqs.16 Court Street, 35th Floor <strong>Brooklyn</strong>, NY 11241(1-718-855-2324)*Prior results do not guarantee a similar outcome - expenses payable at conclusion of case
Change language