The Organisation for Economic Cooperation and Development (OECD) has blacklisted Dominica and a number of other Caribbean countries with Citizenship by Investment Programs saying they threaten international efforts to combat tax evasion.
The OECD blacklisted 21 jurisdictions in a report released on Tuesday after it said it had analyzed over 100 Citizenship By Investment (CBI)/Residency By Investment (RBI) schemes.
The Caribbean countries blacklisted are Antigua and Barbuda, the Bahamas, Dominica, Grenada, St Lucia, and St Kitts and Nevis,
The Paris-based organization said the schemes from these countries, and others blacklisted, potentially pose a high risk to the integrity of the OECD’s Common Reporting Standard (CRS).
The report said that a second citizenship can be potentially misused to hide assets abroad.
“While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS),” the report stated. “In particular, Identity Cards and other documentation obtained through CBI/RBI schemes can potentially be misused abuse to misrepresent an individual’s jurisdiction(s) of tax residence and to endanger the proper operation of the CRS due diligence procedures.”
The report went to say that “potentially high-risk CBI/RBI schemes are those that give access to a low personal income tax rate on offshore financial assets and do not require an individual to spend a significant amount of time in the location offering the scheme.”
In Dominica, it is not required for a person to spend significant time on the island to receive citizenship.
The CRS is the flagship initiative of the OECD and is a framework for countries to cooperate in the fight against tax evasion by sharing information. It allows for details of bank accounts an individual might hold abroad to be sent to their home tax office.
this is just the OECD doing what they always do. they never do anything good for the caribbean’s economic self sovereignty/ economic sustainability. this is their main mechanism for continuing to control a world in which they’ve lost many competitive advantages. they are bullies at best.
http://www.mondaq.com/x/64704/The+Conspiracy+Of+The+OECD+Against+The+Financial+Offshore+Centers
please note: this guy isnt some crack pot. he’s the head of the most pristigous panamanian law firm.
Yes Panama. The PM has connection there as well. Where ever in this world there is any shady business conducted the PM has connection and that’s exactly why Dominica finds its name on this list!!!
what shady business lol? its the OECD that conducts the shady business. read the link. also notice that none of the European tax havens with CBI programs got named. its a double standard particularly since most money laundering happens in US and OECD member states. not small caribbean states.
Might is always right . The OECD members who sell residency and citizenship programs are not blacklisted but then again you can’t blacklist yourself as it would be an indication of faulty brain wiring. The UK, Australia, Austria, Portugal, Cyprus, Belgium and the US are members of the OECD and some are members of G20. What these hypocritical countries are telling us is that their programs are totally imune to tax cheats because they’re the ones that collect the monies. These countries are telling us that they alone should be allowed to sell their residency and citizenship.
LOOK JOKES WE BOY…………
And the Modern day slavery continues. The white man have found another way to enslave the black man. The money must always stay with them. They call it black list so for them black is always bad. All these European countries who have built their wealth by enslaving black people, raping and torturing them, are now trying to find more creative ways to keep the chains on. When slavery was abolished the murderous slave owners were handsomely rewarded while the slaves were sent on their way penniless.
Under Skerrit’s mismanagement,, Dominica is getting pulverized by natural disasters, hammered by the OECD and fragmentalized by Skerrit. The country has become a basket case with its ‘leader’ crisscrossing the globe, arms outstretched, pleading for alms. Skerrit and his sycophantic Ministers have economically castrated the vast majority of citizens. Time for a change. Those in power are exhausted and completely bankrupt of good ideas.
Fellow Dominicans, especially the patriots that hate the EVIL Skerrit has brought upon our nation listen to me please. I know it’s frustrating and some of you are really upset to see where Skerrit, through his evil ways have brought our once beautiful country. I hear your pain, I feel your frustration by reading your blogs. Please take comfort from these words found in Psalms 37:1-3 King James Version (KJV)
1 Fret not thyself because of evildoers, neither be thou envious against the workers of iniquity.
2 For they shall soon be cut down like the grass, and wither as the green herb.
3 Trust in the Lord, and do good; so shalt thou dwell in the land, and verily thou shalt be fed.
My people please remember that EVIL DOERS SHALL ( not will or maybe but ) SOON BE CUT DOWN like the grass.
I would like you to answer the question, who is the one that decides The evildoers that shall be cut down like the grass, is it you with your silly religious rhetoric coupled with your political partisan political beliefs deciding such thing, divine justice does not operate by the whims of your silly beliefs.
Go and crawl back under your rock. You just simply have nothing else to contribute but propaganda for your corrupt master.
The Evangelist October 17, 2018
You are no evangelist, but a blind bat full of hate for just one man, that is all it is about you
You are using Gods Word to call for the worst, for a man who is doing nothing putting God’s Love on display and the majority of Dominicans who follow with him.
Do really believe that in the 21st. century that God would allow the devil to prevail against His glory for 18 years and getting better? Your name does not belong to you
Unless under average leaders of the Caribbean stop towing the continued line of Neo-Colonization, policies like this will forever keep our People shackled. These are the Hypocrats, who refuse to speak REPARATIONS. Very SICKENING.
Bob, you are stuck in the groove of an old 45 record. Move on.
The Skerrit years are coming to an end. Unfortunately for Dominica at least 10 years to late. The damage to the country is done and the only people that got something out of it is Skerrit and his cabal.
Wow! This report came at a time when supporters of Roosevelt Skerrit are getting ready to welcome him back home with his fake honorary degree, while he is the main reason why the country, Dominica is blacklisted. To me it’s like giving a hero’s welcome to the person that destroyed my house. Lord help us in Dominica because you looking for all ways to make us understand how dangerous a Prime Minister we have but we so stubborn that we choose to close our eyes and block our eyes so we don’t hear and we don’t see.
The Lord you are asking for help has given you a mind to think why don’t you use it. Do you think The Lord is a personality that response to your hocus pocus.
what a misleading headline, come one DNO.
Following the CBS 60 minutes program segment on the CBI, the mantra was that the leader of the opposition, Lennox Linton, was giving Dominica bad name. I wonder what those attack dogs have got to say now. Everything that Skerritt touches goes sour. I wonder why? The sad part is that the screws are being tightened around the neck of Dominica and those who are responsible for that are making plans to migrate. I weep for my beloved country.
Wow, you weep for your Country, lol, save your crocodile tears. If you weep for your Country you would not be making such doom and gloom predictions. Who is tightening the screws on Dominica, do you know how long you been suggesting such thing, save your tears.
“I weep for my beloved country” That is what we call HYPOCRITE
Fake News. Food for UWP.
Man..you are a real fake and a kid still in your diapers
A credible international agency has put their foot down and you just spewing out rhetoric rather than doing the credible thing to offer credible assessment of the situation.
Your only interest is this failef Skerrit and nit Dominica. Thsts the nature of the beast.
Dominica is not yiur interest..you fail to analyse the bigger picture but adopted a very myopic view of tge situation just to protect your fail PM.
KID, Skerrit is giving the country many black eyes. Passport scandals, trafficking of indigenous parrots, cozying up to rogue countries, politicizing hurricane relief, incessant mendicancy are only the side dish of the wrongdoings. Dominica is on a steep nosedive trajectory heading for the abyss. It’s an unpalatable life for a very large fraction of the citizens who are just barely subsisting. Vote for Change. Vote out DLP. Enough is Enough. You don’t want five more years of empty bellies.
Ibo, You are at it again once more posting crap on Dno and the rest of it. Ibo are you that stupid? You and the rest of so-called idiots party begging us please give Linton a chance boy you mad, are you lots playing with people lifes or what man go away. My family company nearly went bankrupt when that lots so-called workers calamity party were in office we had to sacrifice one of our homes in London to pay off the bank. Now get out you Linton and his calamity clowns can go to HELL enjoy your stupid selfs in the fires.👹
Alas…Poor Dominica!! We are being blacklisted here, there and everywhere. As if I am tired of hearing these bad news. Something needs to be done eh. When Dominica is getting praises it’s for nothing that is benefitting the country.
Your headline could have been 21 countries including Dominica….But no.
You could have said this is of particular concern for counties such as Malta which is in the EU, but no.
You could have said that CBI is operated by 100 countries world wide, but no.
You could have also said that countries such as UK also operate CBI, but no.
I Wonder why?
@OpenMindSet:
Even if you put icing sugar on top of it, it’s still a mud-pie!
Get your head out from the sand where you have buried it! Our CBI program is being abused to harbour rogues and thieves and that’s the plain truth about it!
Good day!
You are absolutely right. The DLP supporters need to reconsider their position. We can’t allow one man to drag the entire country down.
Duhhh…
This is a Dominica based news outlet…its concentration has to be Dominica.
Let newspapers in Malta carry stories about their countries.
This has to be the dumbest comment I’ve seen here and trust me, I’ve seen many dumb ones.
Because we live in Dominica you dimwit. Is Dominica that concerns us, not Malta.
Would that have changed the fact?
You should realize DNO has its political AGENDA. DNO, Q95, CCM,UWP are all the same. Birds of on feather.
ADMIN: Is this your view or straight from the Prime Minister’s office? We will continue to report on the news. We realize there will be attempts to label us because we don’t pander to any one political view. Nice try.
Are you a journalist?,I find you are do out of place,rude and condescending to inject your wish into how a renowned news medium like DNO should do its work.You mean DNO has to add a layer of lies to cover up for inept Leadership?Your sequacious and complaisant little Skrrtit boy,go get marbles to play.
Skerrit Must Go
Skerrit Must Go
LAZY Skerrit Must Go Now.
Just imagine that the OECD refers to the CBI program as a scheme. That speaks volume of how destructive this program is to Dominica. A program in existence for the past 14 years, with no positive economic impact on the country.
The report said that a second citizenship can be potentially misused to hide assets abroad.
I won’t repeat the detail contents You have read it all, heard it b4 today.
One thing that is understood between the lines is that the passport pushers, not the country are the biggest winners. just to name the more prominent ones: The Monumental Liar/teaser who promises heaven on earth b4 elections.ej international airport be it containers or real concrete LMAO! his local advisors ej Nkomo the other Sr or is it jr counsel all the former DFP-ites including Ayatolla et AL. The report did not state it openly but they are saying a lot about the passport consumers and not so much about the receipients of the bulk of the treasury’s monies.
Their are lot of big players here in DA who have lossed their bank jobs supermarket staff who may have a spouse who maybe a cop or other civil servant who fronts for the ownership of the big house(not home) some where in the middle of the country .
UWP must be happy to hear that …… but inspite of that Dominica is blessed and will continue to move forward
Please,Dominica is cursed under Skerrit regime,but do not worry the time will come when fools like you finally realize the true Skerrit,just a matter of time,and what forward are you talking about?
and why would the said UWP be happy? SEE THE THING WITH PEOPLE, in this country youpeople just dont take note. This is happening and is like just brush it off eh?
UWP always rejoices when there is negative talk about Dominica, just listen to Q95. The so called black list is a long list. Dominica is not the only one blacklisted, there are six Caribbean countries on the list including Dominica. These G20 countries are supporting and implementing systems to protect their tax system, and all we can do is fight among ourselves, to see who can give more support to the white oppressors.
@giving
Is UWP a person?..UWPites are largely Patriots, so they won’t be happy but they will be upset that a lazy PM called Roosevelt “Cannot Do” Skerrit has brought Dominica to it’s knees, where passport selling is it’s main economic activity ..This is a visionless leader/PM..A lazy clueless leader. No wonder Ross had to leave island under his leadership. This is a disgrace to his leadership.This country under Skerrit’s leadership cannot attract FDI..We are doomed!
Skerrit Must Go
Skerrit Must Go
LAZY Skerrit Must Go Now
You’re such a JACK…, poli-tricking Dominica’s good image that’s being tarnished. I’m surprised you didn’t blame UWP for hanging out to dry the island’s dirty linen in the public domain.
Sigh….something must be done!
Is the blacklisting of Dominica Skerrit’s definition of climate change for which he received a FAKE doctorate? I purposely left out “honorary” because it is wrong for such a dishonorable person to receive an honorary degree. The University should have asked Skerrit to give a speech on BLACKLISTING OF DOMINICA, since that’s all he knows about instead of climate change since he knows absolutely nothing about it.
Now, let’s deal with FACTS Dominican. My people do you understand the charges Skerrit caused the OECD to lay against Dominica? They are accusing us of being involved in a scheme that potentially be pose a high risk to the integrity of the OECD’s Common Reporting Standard (CRS).
As we welcome Skerrit back home today, whether we say that to him or not, he knows that he is viewed by many as an individual that is involved in a scheme that potentially pose high risk to us in Dominica, as his actions might cause sanction against us.
Do you know how misleading you’re writing such a comment. Why distort facts to suit your silly political partisan beliefs by leaving out the word Honorary which would describe the type of Doctorate The PM received. There is a difference between a Doctorate degree and an Honorary Doctorate Degree given by an Academic institution. Why such nonsense from you suggesting that the PM received a fake Doctorate
wow, is this the working of your political partisan beliefs making you stoop so low to write such nonsense.
When you say quote “let’s deal with FACTS Dominican.” you are such laughable, what facts. The OECD is not a Court how can they lay charges against Dominica. The OECD is not accusing us of being involved in a “scheme” nowhere in the report it said about a scheme. It said that the CBI program potentially poses a high risk to the integrity of the OECD’s Common Reporting Standard (CRS) so long for your silly misleading comment.
Who cannot hear will feel!
Lazy showman Skerrit thinks thst Dominica can only make money by selling passports..He is so lazy , incompetent and inept he even brags about it.
The IMF has always told us that this CBI passport selling business is risky.
Lazy aSkerrit thinks otherwise
Skerrit Must Go
Skerrit Must Go
Lazy Skerrit Must Go Now
The man Roosevelt Skerrit, continues to sink Dominica into the garbage bin, while he continues to heap up fake and corrupt accomplishments. What is wrong with Dominicans God? DNO while we are at it and the media gets ready to welcome Skerrit home, can you DNO please ask Skerrit if the Villas are sold and if so to whom? Also DNO can you ask him if he knows anything about
Ronald Pieter Nolen, a Dutch citizen with CBI passport? In fact ask him if he knows if anyone with our passport was taken into custody?
The PM received an Honorary Doctorate from a prominent University in The US and you are saying such accomplishment is fake and corrupt, wow. What makes it fake and corrupt, you believing so, why express such nonsensical belief. If anyone is sinking into more garbage it’s you by reading Rijock blog, are you still on this Villa thing, wow. Instead of asking what is wrong with Dominica why don’t you question the fake news you read.
The doctorate is not corrupt but no doubt it was paid for by state funds. Dr. Dr. Skerrit is corrupt and incompetent but you still love your PM. How much does he pay your for the BS you post on here on a daily basis.
Well Well the chickens coming home to roost and is foul eggs they laying.
And in the midst of this report Roosevelt Skerrit receives or bought an honorary degree from a Catholic University, as if to confirm that religion is doing more harm than good. It is in the midst of this damning report laborites have a motorcade planned to welcome Skerrit back. I wonder if Skerrit and the DLP did not know that damning report was coming so they rush to get that fake doctorate bestowed on him to blind their supporters from the truth.
Do you have evidence to suggest that The PM brought the Honorary degree. What do you mean by saying quote “as if to confirm that religion is doing more harm than good.” such mumbo jumbo. You are making such a foolish assumption regarding the celebration. You have not provided any evidence to support your assumption, what a waste of your imagination.