(CUOPM) – CARICOM’s Council for Trade and Economic Development, COTED, has rebuked French President Nicolas Sarkozy’s characterization of three CARICOM states as “tax havens.”
In a statement the COTED says “The Member States of the Caribbean Community (CARICOM), like Europe, are seeking to re-ignite growth, create jobs and ensure financial stability.”
“We are therefore deeply concerned by the recent statements made by the President of France at the end of the G-20 Summit last month which identified Antigua and Barbuda, Barbados and Trinidad and Tobago as “Tax Havens,” the statement said.
According to the COTED statement, “In particular, CARICOM States consider the remarks made at the G-20 Summit Press Conference by the President to the effect that the eleven (11) countries identified by the Global Forum on Transparency and Exchange of Information for Tax Purposes are regarded as “Tax Havens” to be at variance with the spirit conveyed in the Official Declaration by the G-20.”
The President’s remarks fail to recognize the efforts being made by the CARICOM States identified to bring their legal and regulatory framework into compliance with the global standard.
The indiscriminate characterization as a result of these remarks has brought the good reputation of these States into question.
To be absolutely clear, the Global Forum has not, in fact, published a list of eleven (11) “Tax Havens”, and it has certainly not identified any of these jurisdictions as a “Tax Haven.”
Given our Member States’ ongoing collaboration and cooperation with the Global Forum in order to ensure that their legal and regulatory framework meets the global standard, such characterization of CARICOM States is subjective and completely without basis.
We therefore categorically reject the President’s assertions with respect to CARICOM States.
CARICOM Member States acknowledge the outcome of the Peer Reviews and have been taking action both in respect of our national legal and regulatory framework, as well as in respect of the Intra-CARICOM Double Taxation Agreement (ICDTA), which has been in existence amongst our countries since 1994.
In this regard, we are amending the ICDTA to bring the Exchange of Information provisions in compliance with the global standard.
The Global Forum is intended to be a collaborative and cooperative process rather than the adversarial relationship with the OECD that had prevailed in the past. CARICOM States acknowledge and recognize and will continue to support the Global Forum process.
maybe if all countries were to reduce taxes then it would take the global economy out of recession and boost employment worldwide. but the system determines that the poor must stay poor. so these so call g20 or whatever the are forcing regulations down out throats and we sucking up to it. i think the world is a democracy and we or antigua or whoever it is is free do whatever they want.
TO HELL WITH THE FRENCH PRESIDENT. THESE COUNTRIES ARE ALWAYS PICKING ON THE LIL GUY AND THINK BY THROWING THERE POCKET CHANGE AT US WE WILL JUST SIT IN A CORNER AND ACT LIKE KIDS AND DO AS WE ARE TOLD. ITS TIME WE REALLY UNITE AND STAND TOGETHER. BECAUSE TOGETHER WE CAN BE A FORCE. IDENTIFY WHAT WE HAVE AND WHAT THE WORLD NEED AND LEVERAGE UPON THAT
I am elated that COTED — and by extension, CARICOM — has stood up to Monsieur Sarkozy and the OECD on this matter. Ever since the OECD launched its “Attack on the Havens” in 1998, we (I speak here as a CARICOM national) have been on the defensive. It is about time that we fight back. The flight of capital about which the OECD and the G-20 are concerned is a function, not of tax evasion, but of capitalism at its best! May CARICOM stand firm and strong on this issue of national sovereignty — the right of each country to determine its own fiscal policies.
That name calling started a long time ago when Europe felt the caribbean was attracting too much of their investment money. Flight of capital they called it. So they blacklisted caribbean countries to cast a shadow on doing business in the caribbean, and try to stop the filght of capital. He’s just continuing the sheenanigans, trying to deflect attention from the real issues facing Europe.
You mean, the big frenchi (sarkozi) chastizing the little frenchi (skerro)?
Just what your name said
Dominica should pull out of caricom. What the hell does Antigua and Barbuda, Barbados and Trinidad and Tobago have to do with us? We between Guadeloupe & martnique, bad enough the French police treating us like refugees when we go to Guadeloupe.
U third world people must realize without the developed world we are doomed, cause we cannot do for ourselves, what u gonna do kiss chavez rear till u die!
So you rather kiss Sarkozi rear?
I can’t figure out if you’re just playing around spewing nonsense to get people to respond, or if you’re that much of a brainwashed, pathetic retard..
Which is it?
Appropriate response, CARICOM. It is about time that you all speak out.
to hewll with sarkozy to hell with europe to hell with america no one dictates to caricom as to how they run their affair you all always want to dictate to states wat to do and wat not to do and nobody dictates to you all go dictate to the catholic church as to how to run the affairs of christ in a true spiritual way tell them to stop misleading gods people tell the priest to stop molest the little children of god stop same sex marriage in europe stop bein an illuminati go back to your god thats why europe is in so many crises once again go to hell you devil europeans you all are againts god
they need more regulation than CARICOM…whose financial institutions caused the colapse and economic crisis facing first US and now Europe…pls! they like to point fingers are small states because they lose money nothing else…who have the bigest tax havens than USE and Europe….SMFH
If they concentrated more on regulating themselves and their Swiss partners in crime the whole world would not be in the mess that it is. They are nothing but pack of Imperialist sharks!
Have a look at this BBC program aired this week to get an idea of what these dogs are about and are now expecting poor or more prudent people to pay for their crimes:
http://www.bbc.co.uk/iplayer/episode/b0183l0t/Storyville_20112012_Inside_Job/
so true
Can`t stand that little man/monster
A Manster…ha!ha!ha!