SVG passes new tax laws to avoid being blacklisted by EU
Finance Minister, Camillo Gonsalves Social Share
Two pieces of legislation were passed in Parliament this week in an effort to place St Vincent and the Grenadines (SVG) on a footing to avoid being blacklisted by the European Union, as it relates to taxation.
These Acts, the Income Tax (Amendment) Act 2020 and International Tax Cooperation (Economic Substance) Act 2020, were both tabled by finance minister, Camillo Gonsalves on Monday.
Though the two pieces of legislation were debated separately, Gonsalves said that they were closely related, and in fact two sides of the same coin.