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Grenada Says EU Blacklisting Is Unfair

by Mike Godfrey, Lowtax.net, Washington
07 December, 2017

Grenada's Minister of Finance, Keith Mitchell, has written to the European Union requesting the island's removal from its "blacklist" of non-cooperative tax jurisdictions.

The blacklist was released earlier this 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.

The reasons given for Grenada's inclusion on the EU list include its failure to sign and ratify the OECD Multilateral Convention on Mutual Administrative Assistance, and its lack of commitment to addressing this issue by December 31, 2018.

Mitchell explained Grenada's failure to provide a timeline for signing the OECD Multilateral Convention was inadvertent, and said his letter to the Code of Conduct Group includes an undertaking the island will sign the Convention by December, 31, 2018.

Mitchell said Grenada has already given high-level commitments to the Code of Conduct Group to act on concerns regarding transparency and fairness in taxation, by way of letters of November 17 and 28, 2017.

He also pointed out that Grenada has enacted both the primary and secondary legislation required for implementing the Multilateral Convention, and that the island has expended a significant amount of resources to put in place structures and processes to facilitate exchange of information in tax matters with countries in the European Union.

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