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T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

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T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby kstt » December 6th, 2017, 3:23 pm

#BUSINESS NEWS
DECEMBER 5, 2017 / 8:24 AM / A DAY AGO
EU adopts blacklist of 17 tax havens: officials
Reuters Staff
BRUSSELS (Reuters) - European Union finance ministers adopted on Tuesday a blacklist of tax havens which includes 17 extra-EU jurisdictions seen as not cooperative on tax matters, French Finance Minister Bruno Le Maire said.

American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates are the countries listed, officials said.

Le Maire said that other 47 jurisdictions are included in a public “gray” list of countries that are currently not compliant with EU standards but have committed to change their tax rules.

Following multiple disclosures of offshore tax avoidance schemes by companies and wealthy individuals, EU states launched a process in February to list tax havens in a bid to discourage setting up shell structures abroad which are themselves in many cases legal but could hide illicit activities.

Blacklisted countries could lose access to EU funds. Other possible countermeasures will be decided in coming weeks, Le Maire said.

Reporting by Francesco Guarascio and Jan Strupczewski; Editing by Catherine Evans

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby src1983 » December 6th, 2017, 3:31 pm

Not yet affecting financiers, so until then don’t expect a fix

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby kstt » December 6th, 2017, 3:37 pm

Not hearing anything from the Chinee Government Mouthpiece about this!

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby Miktay » December 6th, 2017, 3:38 pm

What about Ireland, Luxembourg and the Netherlands?

The EU has conveniently forgotten about these nations' reputation.

Take one guess why...

http://fortune.com/2017/02/22/world-bes ... -business/

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby meccalli » December 6th, 2017, 4:02 pm

"Stop evading tax in the Cayman Islands... come do it in Luxembourg instead!"

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 6th, 2017, 4:16 pm

meccalli wrote:"Stop evading tax in the Cayman Islands... come do it in Luxembourg instead!"

Cayman does not evade tax. It is legal
It's that the EU wants to know who's banking where and how much.

EU is just to damm fast

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby Miktay » December 6th, 2017, 4:49 pm

The European empire iz getting desperate...

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby hydroep » December 7th, 2017, 7:29 am

I suppose it was just a matter of time before the "Is Kamla fault" excuse would surface with respect to this fiasco.

Baldylocks like he really have a tabanca fuh she yes...:|

Inaccurate info led to TT’s blacklisting
Prime Minister Dr Keith Rowley in Parliament.

Information presented to the Global Forum that led to TT being named as a tax haven and subsequently being blacklisted “is not accurate, and is not an accurate reflection of our status,” says Prime Minister Dr Keith Rowley.

Asked in the House of Representatives yesterday what measures Government will be adopting to deal with the issue, Rowley said the matter was being dealt with by Attorney General Faris Al-Rawi, who had made a lot of progress with respect to TT’s qualifications.

Al-Rawi, he said, has addressed this issue several times over the past two to three weeks.

The blacklisting, he said, “is the outcome of inactivity on the part of the Government of TT.”

At this point in time, he said, TT does not report to the Europe-based Global Forum.

To give clarity to the situation, he said, in 2011 under the previous administration, TT chose to subject itself to the Global Forum oversight.

“In 2014, TT reinforced that position but did nothing to put us in a position to execute that commitment. Therefore now we have been lumped by those in that basket,” he said.


What was not being said, he said, “is that in the last 24 months, this Government has done yeoman service in trying to bring us to a position to avoid these kinds of labels.”


http://newsday.co.tt/2017/12/06/inaccurate-info-led-to-tts-blacklisting/

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby kstt » December 7th, 2017, 7:54 am

So how come we still get blacklisted if you working feverishly on avoiding getting blacklisted?

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 7th, 2017, 8:02 am

kstt wrote:So how come we still get blacklisted if you working feverishly on avoiding getting blacklisted?

As usual things under PNM takes years to ever done.

But the EU is just to damm fast. If folk want to protect their money from another country there is nothing wrong with that.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby kstt » December 7th, 2017, 8:05 am

Most people protect money because it was obtained from ill gains. Think of money laundering.

There needs to be accountability and transparency. Taxes have to be paid as well.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby RedVEVO » December 7th, 2017, 8:12 am

zoom rader wrote:
kstt wrote:So how come we still get blacklisted if you working feverishly on avoiding getting blacklisted?

As usual things under PNM takes years to ever done.

But the EU is just to damm fast. If folk want to protect their money from another country there is nothing wrong with that.



TT peeps should be hiding their $$$ under their mattress !

Why ?

ALL Banks are outrageous with fees and are making saving accounts EXTREMELY difficult .

Gov't want tax $$$ and threatening to take your house .

WASA not giving you water but want to take your house .

Did the average man create these problem ? :shock: :shock:

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 7th, 2017, 8:16 am

kstt wrote:Most people protect money because it was obtained from ill gains. Think of money laundering.

There needs to be accountability and transparency. Taxes have to be paid as well.

That's not true it's only few .
In some countries even if you work in another another country they want to tax that aswell.

I worked with oil men who got paid tax free money in the gulf states. If they brought that money to the UK they would get taxed at 40% . So these guys set up offshore private business contractor accounts and avoid paying UK taxes.

Very few ppl money launder these days. What they do is to open a business, buy cars , build rent houses ect.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby RedVEVO » December 7th, 2017, 8:39 am

zoom rader wrote:
kstt wrote:Most people protect money because it was obtained from ill gains. Think of money laundering.

There needs to be accountability and transparency. Taxes have to be paid as well.

That's not true it's only few .
In some countries even if you work in another another country they want to tax that aswell.

I worked with oil men who got paid tax free money in the gulf states. If they brought that money to the UK they would get taxed at 40% . So these guys set up offshore private business contractor accounts and avoid paying UK taxes.

Very few ppl money launder these days. What they do is to open a business, buy cars , build rent houses ect.


Dude person " kstt " most hard working people work extremely hard for their money.

They protect their money to provide education, financial security , a decent life etc., for their wife & family.

Gov't and Banks scam people.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby Dizzy28 » December 7th, 2017, 9:40 am

I await Shabaka Kambon and his group to start action on having people stop using the term Black List!!!

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 7th, 2017, 9:45 am

Dizzy28 wrote:I await Shabaka Kambon and his group to start action on having people stop using the term Black List!!!

Kambon is a fraud. He only looking to eat ah food.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby Miktay » December 7th, 2017, 10:33 am

When the UK finally Brexits...the EU will have a hole in its budget.

So either funding for EU programs will have to be cut or richer countries like Germany and the Netherlands will have put more money into the European Project.

Citizens of the aforementioned are pushing back wondering why they have to provide more funding.

In conclusion...the EU iz turning over every rock to find extra money.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 7th, 2017, 11:11 am

^^^ SO is PNM looking for extra taxes

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby silent_riot » December 7th, 2017, 11:12 am

Is it cuz we black? Widdifoq

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » December 7th, 2017, 11:14 am

silent_riot wrote:Is it cuz we black? Widdifoq

Nope it's because we have an incompetent PNM government

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby The_Honourable » October 10th, 2020, 8:35 pm

We still on the list :?

EU list of non-cooperative jurisdictions for tax purposes: Anguilla and Barbados added, Cayman Islands and Oman removed

The Council today decided to add Anguilla and Barbados to the EU list of non-cooperative jurisdictions for tax purposes. Cayman Islands and Oman were removed from the list, after having passed the necessary reforms to improve their tax policy framework.

The EU list of non-cooperative jurisdictions for tax purposes is part of the EU's external strategy for taxation and aims to contribute to ongoing efforts to promote tax good governance worldwide. It lists non-EU jurisdictions that either have not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement reforms to comply with a set of objective tax good governance criteria, concerning tax transparency, fair taxation and implementation of international standards against tax base erosion and profit shifting.

Anguilla and Barbados were included in the EU list following peer review reports published by the Global Forum on Transparency and Exchange of Information for Tax Purposes, which downgraded the ratings of Anguilla and Barbados, respectively, to "non-compliant" and "partially compliant" with the international standard on transparency and exchange of information on request (EOIR).

Cayman Islands was removed from the EU list after it adopted new reforms to its framework on Collective Investment Funds in September 2020.

Oman was considered as compliant with all its commitments after it ratified the OECD Convention on Mutual Administrative Assistance in Tax Matters, enacted legislation to enable automatic exchange of information and took all the necessary steps to activate its exchange-of-information relationships with all the EU member states.

Following this update, twelve jurisdictions remain on the list of non-cooperative jurisdictions: American Samoa, Anguilla, Barbados, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the US Virgin Islands and Vanuatu.

As regards Annex II - state of play of pending commitments - due to the ongoing COVID-19 global pandemic the Council decided to extend several deadlines for these commitments. The Council also decided today to remove Mongolia and Bosnia and Herzegovina from Annex II after those countries deposited the instruments of ratification of the OECD Convention on Mutual Administrative Assistance in Tax Matters, as amended.

Background

The EU list of non-cooperative jurisdictions for tax purposes was established in December 2017. It has been revised several times. The most recent substantial revision took place in February 2020. From 2020 on, it is to be updated twice a year.

The list is included in Annex I of the Council conclusions on the EU list of non-cooperative jurisdictions for tax purposes. Those Council conclusions also contain a state-of-play document (Annex II) identifying non-EU jurisdictions which do not yet comply with all international tax standards but have provided sufficient undertakings to reform their tax policies.

The jurisdictions are assessed on the basis of a set of criteria laid down by the Council in 2016, concerning tax transparency, fair taxation and implementation of international standards against tax base erosion and profit shifting.

The Council's decisions are prepared by the Council's Code of Conduct Group which is also responsible for monitoring tax measures in the EU member states.

https://www.consilium.europa.eu/en/pres ... n-removed/

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby redmanjp » October 10th, 2020, 10:30 pm

so that's what the reported was asking the PM about in the press conference today

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby bluefete » October 11th, 2020, 12:39 pm

EU MC!

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby shaneelal » October 27th, 2021, 4:19 pm

Any updates on this ?

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby widdyphuck » October 27th, 2021, 5:36 pm

Heard it got raised in Parliament a few months ago before budget was presented but Commissioner Of Police fiasco drown it out.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby The_Honourable » October 27th, 2021, 5:53 pm

In conclusions approved today, the Council decided to remove Anguilla, Dominica and Seychelles from the EU list of non-cooperative jurisdictions for tax purposes. All three had previously been placed on the list because they did not meet the EU’s tax transparency criteria of being ranked as at least ‘largely compliant’ by the OECD Global Forum regarding the exchange of information on request. The delisting was preceded by the forum’s decision to grant these jurisdictions a supplementary review on this matter.

Nine jurisdictions remain on the EU list of non-cooperative jurisdictions (Annex I): American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.

Pending the granted supplementary review, Anguilla, Dominica and Seychelles are now included in the state of play document (Annex II), which covers jurisdictions that do not yet comply with all international tax standards but that have committed to implementing tax good governance principles.

Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar and Uruguay have also been added to this document, while Australia, Eswatini and Maldives have implemented all the necessary tax reforms and have therefore been removed from it.

Following today’s revision, Turkey continues to be mentioned in Annex II. In its conclusions of February 2021, the Council called on Turkey to commit to automatic information exchange with all member states. Even though progress has since been made, further steps need to be taken.

https://www.consilium.europa.eu/en/pres ... sdictions/

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » October 27th, 2021, 6:53 pm

Who is the red government hiding?

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby timelapse » October 27th, 2021, 9:13 pm

EU could haul their MC

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby zoom rader » October 27th, 2021, 9:31 pm

timelapse wrote:EU could haul their MC
Maybe so , but it's the 1% inclusion with the red brass that giving Trinidad a bad name.

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Re: T&T BLACKLISTED - EU adopts blacklist of 17 tax havens: officials

Postby shaneelal » December 16th, 2021, 9:40 am

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