NO. 51/2015 DATE: June 25, 2015
GRENADA DEMANDS REMOVAL FROM EU BLACKLIST OF TAX HAVENS
ST. GEORGE’S, GRENADA, Thursday, June 25th, 2015: Grenada is gravely concerned to learn that it has been placed on a blacklist on the basis of submissions made by ten European Union jurisdictions. This list suggests that the named jurisdictions are not doing sufficient to guard against harmful tax practices. This list is ill-conceived, ill-informed and lacking in transparency.
To date, Grenada has received two largely compliant ratings by the Global Forum on Tax Transparency and Exchange of Information for Tax Purposes, the international standard setting body for tax transparency. These ratings were based on an objective assessment of Grenada’s legal, regulatory and administrative infrastructure for the exchange of information for tax purposes. This infrastructure is supported by the signing of 32 Tax Information Exchange Agreements and Double Taxation Agreements, 14 of which are with European Union member countries. Grenada is also actively working at meeting its deadline of 2016 for the introduction of the Common Reporting Standard for the Exchange of Information.
In additional to the initiatives mentioned above, Grenada has entered into an agreement with the United States’ Inland Revenue Service for the exchange of information under the US Foreign Account Tax Compliance Act (FATCA). Based on objective assessments, Grenada was also recently upgraded by the CFATF to the category of jurisdictions not requiring enhanced supervision.
Of note is the fact that Grenada has never received a request for information for tax purposes under any of its existing tax treaties, or for that matter from any European Union member jurisdictions.
Despite no longer operating as an international financial services centre, Grenada remains committed to the principles of tax transparency and the avoidance of harmful tax practices. Grenada continues to partner with the international community in the fight against harmful tax policies and practices. Furthermore, Grenada stands willing and ready to sign information exchange agreements with any interested jurisdiction.
Grenada shares fully the concerns raised by the Global Forum in its letter of June 19, 2015, on the methodology used for establishing this so called blacklist and calls on the European Union to move swiftly to remove Grenada from this ill-conceived list.
426 GOVERNMENT FINALISING LOAN AGREEMENT WITH GCNA FOR DISBURSEMENT OF CABINET APPROVED FINANCIAL PACKAGE
386 TRAINING IN CONFLICT RESOLUTION FOR INLAND REVENUE AND CUSTOMS AND EXCISE DIVISIONS HAILED A SUCCESS
339 GRENADA TO DRAFT A COUNTRY PROGRAMME TO ACCESS CLIMATE FINANCE UNDER THE GREEN CLIMATE FUND (GCF)
315 INCREASED INVESTOR CONFIDENCE IN GRENADA LEADS TO OVER-SUBSCRIPTION OF EC.56 MILLION IN TREASURY BILLS
214 VALIDATION WORKSHOP: DIAGNOSTIC ASSESSMENT OF THE CONSUMER PROTECTION LANDSCAPE IN THE OECS REGION
204 NEW CUSTOMS OFFICERS RECEIVE TRAINING IN MONITORING AND CONTROL OF TRADE IN OZONE DEPLETING SUBSTANCES (ODS)
200 GRENADA TO BENEFIT FROM REGIONAL DEMONSTRATION PROJECT FOR THE REFRIGERATION AND AIR-CONDITIONING SECTOR
197 OECS COUNTRY MISSION TO UNDERTAKE DIAGNOSTIC ASSESSMENT ON CONSUMER AFFAIRS LANDSCAPES IN MEMBER STATES
196 ENERGY DIAGNOSIS AND POLICY EVALUATION WORKSHOP AS GRENADA MOVES FORWARD IN DEVELOPING NATIONAL ENERGY PLANNING GUIDELINES
84 Government to meet with Public Sector Unions to discuss new protocol for Statutory Bodies and State Owned Enterprises
58 November 3, 2014 - DISCUSSION OF DRAFT SCOCIAL COMPACT ON GBN TELEVISION – TUESDAY NOVEMBER 4TH, 2014
54 September 25, 2014 - LOCAL TEAM MEETING HELD FOLLOWING THE UN CONFERENCE IN SMALL ISLAND DEVELOPING STATES (SIDS), SAMOA SEPTEMBER 1-4, 2014
53 September 25, 2014 - LOCAL TEAM MEETING HELD FOLLOWING THE UN CONFERENCE ON SMALL ISLAND DEVELOPING STATES (SIDS), SAMOA SEPTEMBER 1-4, 2014
50 September 18, 2014 - THE NOU TO RECOGNISE INTERNATIONAL DAY 2015 BUDGET PREPARATION MOVING INTO HIGH GEAR
48 September 12, 2014 - THE NOU TO RECOGNISE INTERNATIONAL DAY FOR THE PRESERVATION OF THE OZONE LAYER
47 September 12, 2014 - THE NOU TO RECOGNISE INTERNATIONAL DAY FOR THE PRESERVATION OF THE OZONE LAYER
37 June 30, 2014 - JUNIOR OFFICERS OF CUSTOMS AND EXCISE DIVISION PARTICIPATE IN BASIC TRAINING COURSE
36 June 30, 2014 - JUNIOR OFFICERS OF CUSTOMS AND EXCISE DIVISION PARTICIPATE IN BASIC TRAINING COURSE
24 April 24, 2014 - NOU AND GRENCASE COLLABORATES TO PROVIDE TRAINING IN REFRIGERATION AND AIR-CONDITIONING FUNDAMENTALS
21 April 1, 2014 - GOVERNMENT AND PUBLIC SECTOR UNIONS COMMENCE TALKS ON MEMORANDUM OF UNDERSTANDING FOR HOME-GROWN PROGRAMME OF FISCAL ADJUSTMENT AND REFORMS
20 April 1, 2014 - REGISTRATION OF LICENSED NON-BANK FINANCIAL INSTITUTIONS IN COMPLIANCE WITH FATCA
19 March 27, 2014 - GOVERNMENT AND DIGICEL SIGN AGREEMENT FOR INSTALLATION OF ELECTRONIC TRACKING SYSTEM DEVICES IN ALL GOVERNMENT VEHICLES
15 March 6, 2014 - GRENADA TO HOST ENERGY FOR SUSTAINABLE DEVELOPMENT (ESD) PROJECT INCEPTION MEETING
11 February 26, 2014 - 3RD INSTALLMENT OF RETROACTIVE PAYMENTS TO PUBLIC OFFICERS AND TEACHERS DEFERRED
10 February 25, 2014 - GRENADA CUSTOMS AND EXCISE DIVISION ANNUAL AWARD AND RECOGNITION CEREMONY, 2014
8 February 12, 2014 - COMMITTEE OF SOCIAL PARTNERS MOVING STEADFASTLY TOWARDS THE FINALISATION OF A SOCIAL COMPACT