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Published: 26 February 2021
Saint Luci: - The Council of the European Union (EU), on 22 February 2021, announced changes to the EU list of non-cooperative jurisdictions for tax purposes. Several of these changes affect Caribbean jurisdictions.
Four territories in the region are on the “blacklist.” The status of Anguilla, Trinidad and Tobago, and the United States Virgin Islands remains unchanged from the last bulletin. According to the EU conclusion, unresolved issues with these countries may include the following:
• Not rated at least “Largely Compliant” by the Global Forum on Transparency and Exchange of Information for Tax Purposes for Exchange of Information on Request
Not the last challenge from EU
Article by February 26, 2021
Although rejoicing that Barbados has been removed from the European Union’s (EU) so-called blacklist, Minister of International Business and Industry Ronald Toppin remains sceptical of the political and economic bloc, saying he sees a rough road ahead due to expected continued shifts in goal posts.
At the same time, one of Barbados’ lead tax negotiators is predicting that the island could come up against taxation and sanctions on the quickly growing digital economy.
Speaking on Thursday at the annual tax update seminar hosted by the Institute of Chartered Accountants of Barbados (ICAB), Toppin said he remained optimistic the country would be able to overcome future obstacles relating to tax compliance.
Saint Lucia Removed from EU List of Non-cooperative Jurisdictions
February 25, 2021
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PRESS RELEASE Saint Lucia was officially removed from the European Union (EU) list of non-cooperative jurisdictions, for tax purposes on February 15th, 2021.
Saint Lucia first appeared in Annex I (the blacklist) in December 2017 but was subsequently placed in Annex II (the grey-list) in March 2018, after committing to address the deficiencies highlighted by the European Union Code of Conduct Group (EU-CoCG), as they relate to the international business sector.
Over the past few years, the Government has worked diligently to meet the requirements of the EU-CoCG and engaged in discussions with various stakeholders and international bodies. This process was extremely onerous, however the authorities and technocrats maintained the momentum and worked diligently to ensure that the goal of being delisted by the EU was achieved.
Private sector welcomes EU blacklist removal
Article by
by Marlon Madden
The Barbados Private Sector Association (BPSA) has welcomed news that the island has been removed from the European Union Council’s so-called blacklist, saying this should go a long way towards Barbados better protecting its global business sector.
The jurisdiction was removed from the EU’s blacklist on Monday, even as it awaits the review by the Organisation for Economic Cooperation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes classification of being “partially compliant”.
Chairman of the BPSA Ed Clarke told Today’s BUSINESS he welcomed the news that the EU has decided to remove Barbados from its list.