St. Kitts-Nevis Among 30 Countries On EU’s Tax Evasion Blacklist
St. Kitts and Nevis is one of 30 countries placed on the European Union’s black list for not doing enough to fight tax evasion.
The EU’s executive Commission published the list Wednesday (June 17). The blacklisted countries figure on at least ten of the EU’s 28 member nations’ lists of tax havens.
Other Caribbean countries making the list are Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Grenada, Montserrat, Panama, Saint-Vincent and the Grenadines, Turks and Caicos Islands, and the US Virgin Islands.
Andorra, Guernsey, Liechtenstein, Monaco, Liberia, Mauritius, Seychelles, Brunei, Hong Kong, Maldives, Cook Islands, Nauru, Niue, Marshall Islands and Vanuatu round out the list.
Several governments have already responded to the blacklisting of their countries calling the branding “unjust”.
St. Kitts-Nevis presently has Tax Information Exchange Agreements (TIEAs) with nine EU nations- Portugal, Germany, France, Finland, Sweden, UK, Belgium, Denmark, and the Netherlands. In May 21, 2014, Cabinet approved the signing of tax information exchange agreements with Ireland.
Up until press time Minister of Finance, Prime Minister Hon. Dr. Timothy Harris could not be reached for comment on this latest development.