Steps are being taken here to get an explanation from the European Union, on the reasons why St. Vincent and the Grenadines has been blacklisted as a Tax Haven.
This assurance came from Prime Minister Dr. Ralph Gonsalves, as he outlined the measures being taken to address the issue, during a News Conference yesterday.
On Wednesday 17th June, the European Union (EU) blacklisted thirty countries as ‘tax havens’. Fourteen out of the 30 countries are Caribbean countries, including St. Vincent and the Grenadines.
The Financial Services Authority (FSA), queried this blacklisting with the Organization for Economic Co-operation and Development (OECD), the international tax standard setter, which is the relevant international body for tax compliance issues.
The Prime Minister said he has also written a letter to the European Union on the matter