Please enter your email address to receive a password reminder.
Log into Tax-News+
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.
IMPORTANT NOTICE: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
All rights reserved. © 2017 Wolters Kluwer