T&T remains on EU blacklist of tax-havens

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    Trinidad and Tobago remains on the EU’s blacklist of tax-havens.

    The list was updated today, with the addition of Anguilla, the Bahamas and the Turks and Caicos Islands.

    According to a report by the Associated Press, the 12 “jurisdictions” are now considered non-cooperative are: American Samoa, Anguilla, the Bahamas, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, the Turks and Caicos Islands, the U.S. Virgin Islands and Vanuatu.

    The EU established the blacklist in 2017 to tackle rampant tax evasion, however it maintains that the aim is not to name and shame countries, but encourage positive change in their tax legislation and practices.

    It adds that once a jurisdiction meets all its commitments, its name is removed from the annex.

    The list is updated every six months.

    It has however has been criticized by the anti-poverty charity Oxfam, which says it does not consider countries within the EU that are major tax havens.

    Read the Associated Press report: EU adds Anguilla, Bahamas, Turks and Caicos to tax blacklist