1. (a) Kyan Barron has been made jobless from a managerialposition in a financial institution in
Jamaica where he had worked for the past fifteen years. Thebenefits which formed
part of his compensation package were a mortgage at 5% and acompany vehicle
which had cost $3,000,000 when it was new. His plan is to go intobusiness as a
computer consultant working in Jamaica and the Eastern Caribbeancountries. He
has to decide whether
- to operate as a sole proprietor or
- to incorporate and be a director or shareholder or
- to operate in partnership with a former school friend or
- set up in business in one of the Eastern Caribbean islands
Question:
Advise Kyan on his options of
a. sole proprietor
b. corporation
c. partnership
d. the most ideal caribbean country between Barbados and St.Lucia to set up business
Kyan wishes for you to take into consideration: the tax(corporate and individual) structure, available allowances,National Insurance/Social Security costs, Value Added Tax/GSTarrangements and the economic development in Barbados and St.Lucia.
