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Wednesday, 28 September 2016

Barbados to defend position before EU

Barbados international business minister, Donville Inniss, will not be “pulling any punches” at this week’s Peer Review Group of the Global Forum of the Organisation for Economic Cooperation and Development (OECD) in Paris. At that meeting, Inniss and his team are expected to defend Barbados’ position since being blacklisted by the European Union (EU), along with several other Caribbean countries, for being an uncooperative tax jurisdiction. In an address at a reception last Thursday evening, the minister revealed that he would head a delegation comprising staff of his ministry’s international business division and the Barbados Revenue Authority, along with key European advisors. While in Paris, the team will also attend the steering group meeting of which Barbados is vice chair, and, according to him, represent the “voice of small states engaged in the international financial services”. He continued: “I expect that our meetings will be successful and will lead to an enhanced reputation for our domicile, and, by extension, more business for us.” Inniss further disclosed that, earlier last week, he received official notice from the EU of its intention to publish a list of uncooperative jurisdictions based on new guidelines developed by that organisation.

Source: caribbeannewsnow.com