Dominica has been added to the list of jurisdictions which are considered non-cooperative for tax purposes by the European Union (EU) Council.
On Monday February 22, 2021, the council announced that the tax blacklist was due to Dominica receiving a “‘partially compliant’ rating from the Global Forum and has not yet resolved this issue.”
According to a press release, a jurisdiction can be blacklisted if they have “not engaged in constructive dialogue with the EU on tax governance or failed to deliver on their commitments to implement the reforms necessary to comply with a set of objective tax good governance criteria.” These standards, the council said, are on issues such as tax transparency and fairness and the implementation of international standards designed to prevent tax base erosion and profit shifting.
“The changes to the list take into consideration the ratings recently released by OECD Global Forum for Transparency and Exchange of Information (Global Forum) as regards exchange of information on request. For the purposes of the list, the EU requires jurisdictions to be at least ‘largely compliant’ with the international standard on transparency and exchange of information on request (EOIR),” the council stated.
Eleven other jurisdictions were named on the bi-annual list. They are American Samoa, Anguilla, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the US Virgin Islands and Vanuatu.
Barbados, which was blacklisted in October 2020 for a ‘partially compliant’ rating, was removed and placed on a state-of-play document after being granted a supplementary review by the Global Forum.
The state-of-play document reveals the jurisdictions which have “not yet complied with all international tax standards but which have made sufficient commitments to implement tax good governance principles.”
Jamaica has also been added to this list while Morocco, Namibia and Saint Lucia have been struck off since they have fulfilled all their commitments, according to the council.
The EU is a frenemy. They have done this to other Caribbean nations in the past and even to those complying. They still treat us like their little colony toy.
DNO, is now stifling free speech just like Facebook and Twitter. Very early I posted a comment to this article and apparently it is still waiting to be moderated. I guess if it was political against the government it would be posted hastily as I have observed that only antigovernment post are respected and posted.
Admin: We have only seen one comment from you which was published on February 24th, 2021.
This is a clear case of bullying small states. The U.S is probably the biggest tax haven and the E.U leaves them untouched. Remember what the U.S did to Antigua a few years ago and I think they lost in international court? I wonder if the main aim is to keep their potential tourists close to home, maybe?
This is a clear case of bullying small states. The U.S is the biggest tax haven and the E.U leaves them untouched. Remember what the U.S did to Antigua and lost in international court?
Dominica and the other developing nations that got jammed up and black listed by the “Taxation Counsel” should know that when it comes to accountability, the rules usually apply
more to the Ti Ti Wi players. The big sharks; however, get to operate in stealth mode and under mode while fulfilling the roles of judge, jury and exectioner.
Those big MUGS will quickly pull the rug from under the neophtyes’ feet but will roll out the red carpet for the crooked veterans. By no means; however, do I feel sorry for the wannabees who get caught in the net as they should have thought carefully before taking the bait. Remember one man’s shirt jack is another man’s straight jacket.
Dominicans!
Instead of blaming your Prime Minister, support your country against the corrupt EU which is an imperialist bully organization.
Dominica is a sovereign nation and can have whatever tax policies it wants.
🇩🇲
Exchange of information upon request, tax transparency and prevent profit shifting!!!
Our minister of finance can’t just explain this as a clerical error and humbly apologize to fix Dominica’s image in de eyes of the EU.
Skerrit acts so self-centered that during this covid-19 era Dominicans never got an economic stimulus, passport prices dropped to a mere US $50,000, now de country is on an EU list of non compliant tax jurisdictions.
Let me see which caricom leader Skerrit going to get to cry down de EU with him
Is Lennox that do that…. Just listen, time will tell
Just like DT won the US election right?
When a PM is telling passport purchasers that their investment in Dominica can be sent out of the country with no issues of taxation…..
Of course Skerrit will say that the big economies are harassing small island developing states!
Our very own institutions of state is just a weak white elephant
Why is Dominica always present in everything that’s bad?
…ask your PM, why don’t you!
…Because he’s try nuisance, immature, visionless Incompetent Failed Odd Minister who has a high and has no knowledge to the etiquette and protocol of managing and directing the core of our government and therefore has lost or rather never had any preparation nor the value and protocol nor the obvious decency and management skills to run, manage a Government, much less to be the political Leaders of a weak Labour government under his failed Immature Incompetent thoughtless Labour Leadership. That is why we our Government is in a state of no direction, let alone to address, understand the respective roles of management of government, the role of the Political Parties, the role of this oversized Labour Ministers and the obvious failure of this Failed incompetent immnature Labour government.
Therefore this Failed Leader and sitting Immature Labour government currently has no committment, lacks maturity, visionary and management of our poor island Dominica.
Welcome UWP Hon.Linton.
The Skerrit led nocturnal regime continues to give Dominica a black-eye. The EU has accused Skerrit led autocracy of lacking in good governance, transparency and generally shrouded in darkness.
When a country is blacklisted by the European Union no reputable foreign business entity would want to invest in that pariah country.
Dominica is going to the dogs under this maladministration. Only the collective will and effort of the majority of Dominicans, in massive street demonstrations, will dislodge this incredibly corrupt and inept regime from power and restore the country to a tranquil and thriving jurisdiction once again.
Dominica was once a powerhouse in the sub-region in terms of agricultural produce, sports (cricket & football), as a iconic cultural country, in academia and many other spheres. Now, under Skerrit’s stewardship, it’s a mere shadow of its once proud self.
Well there we go again. The aid flow will be stoped until such time these issues are addressed by the Skerrit regime. The EU is not best pleased with him anyway and keep a very close eye on him in regards to his China policy, lack of accounting for government fund and possible aiding with money laundering.
Boy, what a commess. You think that is for no reason ? Ask our minister of finance who is well happy to get aid and grants from the EU. Non transparency they say. Well well, that sounding familiar, not so?
What is it that the EU is asking of Dominica? What is it that Dominica is doing or not doing that the EU is aggrieved with?
I think the media can assist the public understand this news story much better if there was some explanation as to why our country has found itself on a “black or gray list” of the EU.
The media has not done a proper job in bringing the facts and explaining the matter. The manner of reporting these stories always denotes a negative connotation , like Dominica, or any country for that matter, is engaged in doing something really wrong. Something that is impacting the socio-economic well-being of the EU member countries’
Ronald good day sir. It is quite well explained here how and why and what for, Dominica finds itself on the list.
The report here is quite clear.
It explains how and why a country gets placed on the list. What are you really asking the media to explain sir?