Barbados is NOT a non-cooperative jurisdiction in taxation matters or any other matter.
The island’s Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, stressed this yesterday, as he addressed media representatives on the blacklisting of this country by the European Union (EU).
At the offices of International Business, Baobab Tower, Warrens, St. Michael, Minister Inniss forcefully stated: “We remain truly cooperative, but true to our ideals and policies as a sovereign nation, as we strive to be the International Financial jurisdiction of choice.”
The proclamation came following his detailing of the country’s efforts to ensure compliance with the EU through weeks of interaction between Barbados, the EU and various international agencies on the matter.
Deeming the listing as “extremely unfortunate and unfair” to Barbados, Mr. Inniss said with respect to the way forward, the island would be sending a detailed letter to the EU requesting an urgent review of “their rather unfortunate listing of Barbados as
Acknowledging that his country would be urging CARICOM to take the lead on regional dialogue, the International Business Minister explained: “…Being mindful that our region will continue to be under scrutiny and attacks from other regional groupings and multinational organisations, Barbados will once again request a regional dialogue on the matter with the goal of establishing a high level regional team of experts to engage with external parties on behalf of the region. We really expect that CARICOM will take the lead on this matter.”
The country, one among four in the Caribbean to be blacklisted by the EU on December 5, will also be engaging all of its officials and private sector partners “to continue to educate our multinational partners on these issues”.
To read the full statement from Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, on the European Union list of non-cooperative jurisdictions in taxation, you may click here.