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Tuesday, 10 November 2015

CARICOM to respond to EU tax haven listing

In a recent publication, Sir Ronald Sanders explains how the European Commission has issued public documents wrongly naming several CARICOM jurisdictions as ‘tax havens’. Reference to the Tax Justice Network (TJN) - an independent European-based think-tank -  report shows that no Caribbean Community (CARICOM) member state ranks among the top 20 jurisdictions worldwide for financial secrecy: the United States of America (3), Germany (8), Japan (12) and Britain (15). Further, the Global Forum on Transparency and Exchange of Information for Tax purposes rates the US and European Union countries, Britain, Germany, Italy, Netherlands, Greece and Estonia only in the second grade of jurisdictions that are compliant with international standards. He notes that CARICOM countries should show unity and resolve to engage the European Commission.

Source: caribbean360.com