• Today
    December 15

  • 08:34 AM

Barbados backlisted

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 12 March 2019

european-union

BARBADOS HAS BEEN blacklisted by the European Union (EU), and faces the threat of “sanctions”, including reduced funding.

The EU Council yesterday announced it was adding Barbados to its list of non-cooperative tax jurisdictions, having assigned the country, United Arab Emirates (UAE) and Marshall Islands to a grey list a year ago “following commitments they had taken”.

“Barbados has replaced a harmful preferential tax regime by a measure of similar effect and did not commit to amend or abolish it by the end of 2019,” the Europeans asserted.

In addition to Barbados, UAE and Marshal Islands, the revised EU list of non-cooperative jurisdictions for tax purposes now includes Aruba, Belize, Bermuda, Dominica, Fiji, Oman and Vanuatu.

The EU claimed these jurisdictions “did not implement the commitments they had made to the EU by the agreed deadline”.

Based on what the EU outlined yesterday in a four-page “fact sheet”, Barbados and other blacklisted countries now faced the imposition of measures “which will ensure that the EU list has a real impact”.(SC)

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Are you being cautious with your Christmas spending in 2019?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM