Barbados To Raise 'Unfair' Tax Blacklisting With EU
by Mike Godfrey, Lowtax.net, Washington
08 December, 2017
Barbados has described its inclusion on a European Union list of non-cooperative tax jurisdictions as "extremely unfortunate and unfair."
The tax "blacklist" was released last week by the EU Council of Finance Ministers, adopting recommendations presented to it by the EU Code of Conduct (Business Taxation) Group. Of the 92 jurisdictions assessed by the Code of Conduct Group, 17 were found to be non-cooperative in tax matters.
Following news of the listing, Donville Innis, Minister of Industry, International Business, Commerce, and Small Business Development, called a press conference at which he explained in some detail the work Barbados has done to date to align its laws with global standards of tax good governance.
He also told the assembled media of the reform commitments Barbados has made to the EU, including its undertaking earlier this month to abolish the island's Fiscal Incentives Act, which provides certain manufacturers with tax and duty exemptions for up to 15 years, by next September.
Innis said he would write to the EU to request an urgent review of its decision.
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