Guam

Caribbean countries that live in fear of being blacklisted by the European Union should band together and take legal action, according to Barbados-based economist and Caribbean policy expert Marla Dukharan.

“I felt like there should be some legal recourse that should be pursued collectively,” Ms. Dukharan said on Feb. 23 on the regional livestreamed show “Territories Talk,” hosted by Shaina Smith-Archer, chairwoman of the BVI Chamber of Commerce and Hotel Association.

The Virgin Islands has been added to the European Union’s “grey list” along with nine other jurisdictions in the Caribbean and elsewhere, the EU Council announced after its meeting on Feb. 24.

Besides the VI, the EU added the Bahamas, Belize, Bermuda, Israel, Montserrat, Russia, Tunisia, the Turks and Caicos Islands, and Vietnam, bringing the total list up to 25 jurisdictions.

The dawn of Brexit could find the Virgin Islands on the European Union blacklist of non-cooperative tax jurisdictions even though the territory passed economic substance legislation in 2018 specifically to avoid that censure.

Barbados has been officially removed from the European Union’s (EU) controversial tax blacklist.

This morning, the EU Council adopted its latest list of non-cooperative jurisdictions for tax purposes and Barbados was not on it.

Minister of International Business Ronald Toppin confirmed the news and said Government was “very pleased about this”.

There are, however, other Caribbean countries included, with Anguilla and Trinidad and Tobago still the on list, and Dominica a new addition.