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.

Minister of International Business, Donville Inniss. (FP)

Good evening Ladies and Gentlemen,

Let me take this opportunity to express my thanks to GIS and the media for responding at such short notice to the scheduling of this press conference. I also welcome our friends through Invest Barbados from Canada joining us via Skype.

On 5 December 2017 yesterday, the Council of the European Union through its Code of Conduct Group approved and published conclusions containing an EU list of non-cooperative jurisdictions in taxation. It also agreed on the further process, including the application of ‘defensive’ measures with regard to the listed jurisdictions.

The aim of this from their perspective is to promote good governance worldwide, in order to maximise efforts to prevent tax fraud and tax evasion. The initiative is part of the Council’s external strategy for taxation, delivering on its November 2016 conclusions that called for a list to be established by the end of 2017.

You may download a copy of the full statement by clicking here.

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