The complexity of the European Union’s (EU) blacklisting process that has labelled some CARICOM member states as non-cooperative tax jurisdictions has been decried by CARICOM Secretary-General, Ambassador Irwin LaRocque, as a persistent threat to development in the region.“I refer to the labelling of our countries by the European Union as non-cooperative tax jurisdictions that refuse to comply with what they determine to be tax good governance standards.
Ambassador LaRocque said financial services contribute significant revenue for several member states and are “therefore an important source of domestic resources”. He added that the United Nation’s (UN) Addis Ababa Action Agenda recommended the mobilization of such resources.
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