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Barbados Welcomes Removal From EU Tax Blacklist

by Mike Godfrey, Lowtax.net, Washington
25 January, 2018

Barbados's Minister of Industry, International Business, Commerce, and Small Business Development, Donville Inniss, has welcomed the European Council's January 23 decision to remove the island from its list of non-cooperative tax jurisdictions.

A further seven countries were also removed from the EU tax blacklist, including Grenada, Macao, Panama, and the United Arab Emirates. This leaves nine jurisdictions on the list out of the 17 announced initially on December 5, 2017.

The EU said the eight countries removed from its blacklist will be moved to a separate category of jurisdictions, and will be subject to close monitoring.

Inniss said that while the EU's decision augurs well for Barbados, the island must remain vigilant in ensuring it is internationally regarded as a well-regulated jurisdiction, whilst also positioning itself to be a jurisdiction of choice in the international financial services sector.

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