(DNO)Prime Minister Roosevelt Skerrit says Dominica has been removed from a list of countries deemed by the Organization for Economic Cooperation and Development (OECD) to be uncooperative in the international business services sector.
Dominica was placed on a “grey list” of countries after failing to implement the internationally agreed tax standard
The grey list was compiled by the OECD of jurisdictions that “have committed to the internationally agreed tax standard, but have not yet substantially implemented”.
But Prime Minister Skerrit says Dominica was removed from the grey list because of measures it took recently.
“We had to take action towards addressing this and Dominica has so far signed 12 tax information exchange agreements with different jurisdictions. We are also concluding negotiations with the government of Germany and Canada and we are hoping to have it conclude in a week or so,” he said.
He said “this has caused Dominica to be considered compliant and the country has been removed from the grey list”.
According to him, Dominica could have received negative publicity if government has not taken the first step.
He says the agreement being signed will give the G20 countries and Dominica the opportunity to work together to fight illegal activities.