The OECD has announced that Antigua and Barbuda, Saint Vincent and the Grenadines, and Dominica have signed up to its Inclusive Framework on BEPS, bringing membership to 122.
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At a seminar to mark its 70th anniversary, the UN Economic Commission for Latin America and the Caribbean highlighted the importance of territories in the region to wholeheartedly adopting evolving tax transparency standards, given the reputational impact on their economies if they are found to be non-compliant.
Caribbean banks have lost important correspondent banking relationships as a result of international banks withdrawing from the region, according to a working paper recently released by the International Monetary Fund.
The Secretary-General of the Caribbean Community, Irwin LaRocque, has urged Sweden to use its position in two major international organizations to highlight the unfair labeling of some Community member states as „non-cooperative tax jurisdictions.“
The IMF has released a report that takes stock of the recent work of the Caribbean Regional Technical Assistance Center, which has supported Caribbean territories to improve their tax regimes since 2001.
The Commonwealth Secretariat recently hosted a public meeting to discuss the findings of a survey into the challenges faced by its members with respect to the drop in correspondent banking relationships, or bank „de-risking.“