That review will determine whether the country’s legal and regulatory systems are in place to exchange tax information with other countries and, consequently, if T&T will remain on the EU’s non-compliant list.
Imbert made a statement in Parliament on the issue of T&T’s non-compliance with the EU standards on Friday, the same day that St Kitts and Nevis and The Bahamas were removed from the EU’s non-compliant list. The removal of those countries left T&T as the only non-compliant Caricom country. In his statement, Imbert said: “The rating of being non-compliant was one of the main contributors of T&T being listed as a non-cooperative tax jurisdiction by the European Union last year.
But it does not mean, as has been incorrectly interpreted by some commentators, that T&T has been declared to be a tax haven. We are not compliant in terms of the sharing of information with the tax authorities in other countries.”