New Life is a multinational distribution company that started operating a Branch in Barbados on

$1$ January $2023.$ The company$$s Head Office is in the Cayman Islands and is part of a group which

earns more than USD $850$ million for the year. It employed some of its staff from Barbados and

imports good and services from the US$,$ Cayman Islands, and other Caribbean countries. New Life

repatriation policy is to transfer $50\%$ to $70\%$ of its after$-$tax profits to the Cayman Islands.

The company was of the view that for the first year of operation there was a window of no tax

obligations. In December $2023,$ the company realized that their understanding was not correct

and therefore engaged UWI Tax Consulting Services Limited to provide tax advisory and tax

compliance services. Your Group was assigned this engagement.

Required.

Advice New Life of the tax matters that needs to be considered when operating in Barbados

including any tax benefits or incentives they may consider.