BUSINESS MONDAY - FIRM RESPONSE NEEDED
THERE must be a strong response by the Government to the European Union (EU) which last week blacklisted Barbados.
The call for such has come from Business Consultant, Ms. Lisa Gale, in reaction to the EU’s decision which now sees Barbados moving from a grey list to the blacklist for not having done follow-up work on commitments which the EU said the country had promised.
The EU named Barbados, the United Arab Emirates and Marshall Islands that were on a 2017 list and moved them to the grey list prior to the action taken a week ago.
“I am not aware that we made any commitments to the EU, having taken action to modify our taxation policy and brining both the international business sector and local businesses into parity,” Gale told Business Monday.
Calling it a commendable step by the country, Ms. Gale stated that for the EU to say our tax regime is erroneous warrants a strong response.
“Barbados must respond that way even if they threatened we will not benefit from their financing. We must not let that stop us from taking a position (on this matter),” said the Business Consultant.
Saying that Barbados is not a domain of any EU state, Gale remarked that she is very much aware of the harmful taxation.
“We have to put down our feet and I am calling on the Minister of International Business and the team of professionals in that Ministry to furnish a response,” she added. (JB)