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By Melanius Alphonse
Caribbean News Now associate managing editor
melanius@caribbeannewsnow.com
CASTRIES, St Lucia – Prime minister and minister for finance Allen Chastanet’s budget address for financial year 2019/2020, acknowledged that the Saint Lucia government has commenced the necessary review whilst engaging the European Union (EU) and code of conduct group, in its efforts to meet international standards on tax transparency and the exchange of information which have been set, not only by the EU but also by the Global Forum and the Economic Cooperation and Development (OECD).
“Government will continue its efforts in ensuring that Saint Lucia remains compliant with the requirements for tax transparency and exchange of information as we foster a vibrant economy and improve the quality of life for our people. Saint Lucia has already made the requisite commitment, as such, we are not on EU’s blacklist, although we remain on the greylist until the next assessment,” Chastanet said.
“Saint Lucia can ill afford to be on the wrong side of these international tax requirements. Compliance on international tax matters affects the investment climate, the availability of funding and the general perception of a jurisdiction. As a small island developing state, we need to attract foreign direct investment and obtain funding in order to achieve the level of economic growth and development, which we need,” he continued.
In addition to the commitments made by the government of Saint Lucia to the EU and OECD, several measures of global activity influence policy and government legislative agenda.
By Melanius Alphonse
Caribbean News Now associate managing editor
melanius@caribbeannewsnow.com
CASTRIES, St Lucia – Prime minister and minister for finance Allen Chastanet’s budget address for financial year 2019/2020, acknowledged that the Saint Lucia government has commenced the necessary review whilst engaging the European Union (EU) and code of conduct group, in its efforts to meet international standards on tax transparency and the exchange of information which have been set, not only by the EU but also by the Global Forum and the Economic Cooperation and Development (OECD).
“Government will continue its efforts in ensuring that Saint Lucia remains compliant with the requirements for tax transparency and exchange of information as we foster a vibrant economy and improve the quality of life for our people. Saint Lucia has already made the requisite commitment, as such, we are not on EU’s blacklist, although we remain on the greylist until the next assessment,” Chastanet said.
“Saint Lucia can ill afford to be on the wrong side of these international tax requirements. Compliance on international tax matters affects the investment climate, the availability of funding and the general perception of a jurisdiction. As a small island developing state, we need to attract foreign direct investment and obtain funding in order to achieve the level of economic growth and development, which we need,” he continued.
In addition to the commitments made by the government of Saint Lucia to the EU and OECD, several measures of global activity influence policy and government legislative agenda.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
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