The Ambassador of the Eastern Caribbean states Sharlyne Shillingford McKlemon has said that “there was nothing else that Dominica could have done in this matter.” This was said in relation to Dominica being blacklisted by the EU.
According to McKlemon, in March 2018, Dominica was requested to alter its laws and policies within nine months. The EU regarded Dominica at that time as as Preferential Tax Regime. The EU also felt Dominica’s tax laws were not in accordance with EU requirements.
She says the necessary amendments were made to the laws and Dominica was requested by the EU to join the convention that deals with base erosion and profit shifting (BEPS). Membership was granted by the OECS following the submission of the necessary legal requirements.
McKlemon also mentioned that following Dominica’s membership to BEPS, the EU requested Dominica to join another tax related convention.
As that too had been legally fulfilled, Dominica being on the blacklist is no fault of the Government of Dominica. The Government of Dominica complied with all of the European Union’s necessary requirements.
Below is an audio of a speech by the Ambassador of the Eastern Caribbean States to Brussels, Sharlyne Shillingford McKlemon.
See previous story on the EU new tax haven blacklist: https://www.dominicavibes.dm/news-25709