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St Kitts And Nevis Champion Caribbean Financial Services,
by Phillip Morton, Investors Offshore.com
Monday, April 20, 2009
St. Kitts and Nevis Prime Minister, Denzil Douglas indicated his intention
to mount a stout defence of regional offshore financial centers at the Fifth Summit
of the Americas, which got underway in Port of Spain, the Trinidad and Tobago
capital, on April 17.
Douglas, citing US President Barak Obama’s opposition to offshore financial
centers, urged that the Caribbean region needs to explain how important such
facilities are to Caribbean economies.
“We will need to ensure that not only President Obama understands the
implications for the small economies here in the Caribbean region, but also
members of congress who will be there. We are hoping that we would be able to
have bilateral discussions with them and bring them up-to-date on our own perspective
on this matter,” said Prime Minister Douglas.
He pointed out that St. Kitts and Nevis and other Caribbean offshore financial
jurisdictions are already holding talks with several countries on tax exchange
agreements so that “we do not want to be seen as tax-free havens, but
rather important jurisdictions enforcing low tax policies within a framework
of appropriate tax agreements with other countries.”
”Recent events are of tremendous concern to us, especially the creation
of the latest OECD blacklist,” concluded Douglas.
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