Dowell's Advisory Services Inc.

01/03/2023

Save the date!
Register for this super informative session conducted by DASI Chairman and CEO, Oral Dowell, on the 'Six Pillars of Running a Professional Service Business.'

23/09/2022

Why should you establish an entity in Barbados?

It is an ideal location for taking advantage of duty-free exports to international markets and increasing sales.

Dowell's Advisory Services Inc. (DASI) is here to lend support to your accounting process, so you can focus on what you do best!

13/07/2022

Automation has been cited as one of the innovations that have rescued most corporate tax departments over the last 2 years.

Automation has assisted the way we work for more than the past 30 years, but over the previous 2 years, this was a necessary solution to work. To learn more about automation, click here: https://tmsnrt.rs/3Qpqjhz

If you need accounting help for your business in Barbados, get in touch with our team: https://bit.ly/3NbEvYR

SUITE OF SERVICES Bookkeeping Someone needs to collate, batch and record all financial transactions. That is where we come in. To prepare the ground work for the accounting process. Our techniques are centered around a forensic driven methodology of record batching and data entry. Contact Us Financi...

06/07/2022

The United Nations Conference on Trade and Development says investment flows to the region reached $134 billion last year, up from $88 billion in 2020.

In the report, FDI in Latin America and the Caribbean rebounded from the pandemic-induced slump, growing 56%: https://bit.ly/3xzJVqw

We can help with your investment in the Caribbean: https://bit.ly/3xzGHmP

GENEVA, Switzerland — The United Nations Conference on Trade and Development (UNCTAD) says investment flows to the region reached US$134 billion last year, up from US$88 billion in 2020. According to UNCTAD’s World Investment Report 2022, foreign direct investment (FDI) in Latin America and the ...

04/07/2022

Who collates and records all of your financial transactions? We can!

We're here to prepare the groundwork for the accounting process for your business. To find out more about our accounting services, click here: https://bit.ly/3NbEvYR

28/06/2022

The World Travel & Tourism Council (WTTC) has revealed that the Caribbean travel and tourism sector is expected to create 1.34 million jobs over the next 10 years.

Per WTTC's latest report, the sector's contribution to GDP is likely to grow at an average rate of 6.7 annually over the next decade: https://bit.ly/3xY4EWI

If you would like to start a business in the Caribbean, get in touch: https://bit.ly/3xzGHmP

The World Travel & Tourism Council (WTTC) has revealed that the Caribbean travel and tourism sector is expected to create 1.34 million jobs over the next | The latest WTTC report addresses challenges to facilitate the growth and recovery of the tourism and travel sector in the region. More here.

14/05/2022

BEFORE YOU START A BUSINESS, SERIOUSLY CONSIDER THESE KEY THINGS:

1. Determine the legal structure that suits your business risk.
2. If you're hiring staff, make sure you seek advice on things like, how to prepare employment letters and understanding the various Employment Acts.
3. Record keeping is critical to your business. It accounts for the financial transactions of your business' activities while being compliant with the reporting requirements to the Barbados Revenue Authority.
Fact: It’s a myth that you only need to report or 'file a tax return' if you've 'made a profit'.
4. Reporting to the National Insurance Department is another statutory compliant requirement.
5. One of the statutory reporting requirements to the Barbados Revenue Authority is that income tax deducted from your employees’ pay and collected by the employer must be remitted to the department in order to be compliant.
6. From income year 2015, the Corporate Affairs and Intellectual Property Office started to enforce an already established requirement. Failure to report on time resulted in penalties. Most companies don't even know of this compliant requirement.
7. If you are registered for Value Added Tax, you must comply with the Barbados Revenue Authority's reporting requirements.

Visit www.dowellsadvisory.com for more information.

22/04/2022

Investment and trade between Barbados and Scotland continue to strengthen. This was evident when Renfrewshire Business Network in collaboration with Invest Barbados hosted the launch of a ‘trade and investment mission from Scotland to Barbados’ event in Glasglow, Scotland, recently.

To read more about this partnership, click here: https://www.investbarbados.org/news/barbados-and-scotland-strengthen-investment-and-trade-relations/

20/04/2022

Earlier this year, we were approached by an international employee placement company to become their employer on record.

What does this mean and what is entailed?

An employer on record involves the hiring of one or more of their client's (not a registered company in Barbados) employees as one of ours, with all the rights, responsibilities and benefits as one of our employees. Also, it involves all of the necessary due diligence and legalities to be undertaken appropriately by the domestic hiring company to ensure compliance with all of Barbados' statutes and laws.

The benefits to that employee, working in and from Barbados, for the client's company is predominately to make social security contributions to the State which in turn will provide access to the State's domestic social security benefits like any other national working in Barbados.

This provides the client with a cost effective solution rather than having the employee on their international health and benefits and pension plans and receiving the measure of salary derived outside of their 'working-in' jurisdiction.

Although there are other benefits to be derived, it must be clear that this employer on record arrangement is common place throughout the world. However, we believe that it is a relatively new trend developing in the Caribbean since the advent of the pandemic that has thrust us all into working virtually from any place of choice on this planet.

- DOWELL'S ADVISORY SERVICES

16/04/2022

One of our fellow members within our IR Global international network, a UK law firm, reached out to us to provide an opinion on behalf of its UK client related to an existing Barbados registered incorporated company which they wholly owned.

They had a Barbados director in place but wanted to know and verify two matters.

1. To verify and explain whether their issued company's number was in a separate Barbados register at the Barbados’ Corporate Affairs and Intellectual Property Office (CAIPO) from other categories of companies, and that the numbering system for all registered companies was not co-mingled into one register.

2. That the tax structure which they have in place based on their business process flows from an operational, legal, financial and tax base perspective were not only the best way to be structured but that it was the optimum way to be ultimately tax efficient across both jurisdictions.

We were able to provide the appropriate advice on both matters to our member for their client and now the client is in the process of restructuring his tax situation based on our advice.

14/04/2022

“This past year, business models have been reinvented. Supply chains have been restructured. Promises of new scientific breakthroughs have been suddenly realised. Productivity, we now know, can thrive virtually.”

So says a new report, Business Futures 2021: Signals of Change, from professional services company Accenture. It highlights how the transformations taking place in the business world are forcing companies to rethink the what, where and why of their operating models.

Read more: https://www.weforum.org/agenda/2022/02/market-trends-reshaping-business-success-forward-thinking/

12/04/2022

Whether employee engagement, marketing activities, database management, or excellent customer service, everything in the digital ecosystem seems challenging for businesses. But if you are prepared, nothing can stop your business from scaling new heights.

This article contains some of the best tips to make a business successful in the digital environment.

To read more, click here: https://mxdmarketing.com/7-tips-to-grow-your-business-in-2022/