Swiss Ambassador Visits Antigua To Discuss Savings Tax Agreement

by Carla Johnson, Investors Offshore.com

14 March 2003

Leading Swiss diplomat, Pierre Monod visited Antigua and Barbuda at the weekend to discuss the likely impact of the European Union's savings tax agreement on small offshore financial centres.

According to the Antigua Sun newspaper, Ambassador Monod met with the resident British Commissioner, Jean Sharpe, Venezuelan Ambassador, Jose Silva Mendez, as well as senior representatives from the government and the Office of National Drug Control and Money Laundering.

The local newspaper revealed that: 'Prime Minister (Lester) Bird spent most of his time with Ambassador Monod on the subject of international taxation and the recent decision of the EU ministers to exempt some of their members from compliance with international standards developed by the Organisation for Economic Cooperation and Development (OECD), which apply to all other jurisdictions.'

The Antiguan Prime Minister reportedly praised Switzerland for its consistency throughout the OECD and EU negotiations, and expressed his preference for the withholding tax option favoured by the Swiss.

The Antigua Sun also revealed that Prime Minister Bird: 'called on the Swiss government to speak up on behalf of the smaller jurisdictions, which have a right to offer financial services so long as they are well regulated'.

Ambassador Monod promised to take this message back to the Swiss authorities.

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