Oh, I agree, that's certainly why the money is going to Barbados. And the same process happens with American companies, I should add. You see basically the same phenomenon--not surprisingly, because the economies are very similar.
The thing to remember is that the income earned when an investor puts money in Barbados or Cyprus is not actually earned in Barbados and Cyprus. There are hardly any factories or employees there--a small number. Basically, those are conduit destinations that then take that money and invest it in Europe or South America or wherever the thing may go. And in those destinations, it is taxed. It all depends on where, of course. But I think it's only looking at the first piece of the puzzle to see where the money goes initially.
The Statistics Canada data you're correctly representing really looks at the first place the money is going, but then it's turned around. It's sort of like saying if I put money in the bank, it goes into my local corner bank, but of course that's not really where it goes, because then the bank turns around and loans it to a company somewhere else.