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CARICOM Challenges Portuguese, EU Tax Blacklists

by Mike Godfrey, Lowtax.net, Washington
07 March, 2016

The Caribbean Community (CARICOM) has discussed the organization's efforts to have its member states removed from EU lists of non-cooperative tax jurisdictions in a meeting with Portugal.

Portugal and several other European countries currently consider some CARICOM member states to be non-cooperative in tax matters. CARICOM said this is despite member states complying with the standards established by the Financial Action Task Force (FATF), the OECD's Global Forum, and those of other international bodies.

The issue was raised by Irwin LaRocque, CARICOM's Secretary-General Ambassador, with Portugal's new ambassador to CARICOM. LaRocque told his Portuguese counterpart that CARICOM is gravely affected by the Portuguese list, as financial services are of vital economic importance to its member states, and said it would be "…a step in the right direction if this unjust and unfair action be rescinded."

The full members of CARICOM are: Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

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