BusinessLocal NewsNews On the job by Barbados Today 14/03/2019 written by Barbados Today 14/03/2019 1 min read A+A- Reset Share FacebookTwitterLinkedinWhatsappEmail 407 Minister of International Business and Industry Ronald Toppin says Barbados is working towards having its name removed from a European Union blacklist. Following yesterday’s blacklisting, Toppin said in a press release from his ministry today, that Barbados has already been deemed compliant by the Organisation for Economic Co-operation and Development (OECD), the globally-recognized body for the setting and monitoring of international tax standards. Minister Toppin said Government was aware of the European Union’s (EU) actions and has been working on addressing the matter appropriately. “Barbados recently converged its domestic and international corporate tax rates to a range between 5.5 percent, to one per cent, and I am sure that the Honourable Prime Minister and Minister of Finance [Mia Amor Mottley] will have much to say on this matter next Wednesday, as will I during the Budgetary Debate,” the release stated. The Council of the European Union added ten governments to the five already on its blacklist of non-cooperative tax jurisdictions. The revised list now includes countries such as Aruba, Barbados, Belize and the United Arab Emirates. According to the statement, the jurisdictions failed to implement commitments that they had made to the European Union by an agreed deadline. You Might Be Interested In Crystal Beckles-Holder, 2nd runner up in regional competition GUYANA: Body of child found after gold mine collapses Barbadians asked to help with return tickets for Haitians The council also said that it would continue to regularly review and update the list in the coming years to take into account evolving criteria and deadlines for jurisdictions to deliver on their commitments to improving their tax governance. Barbados Today Stay informed and engaged with our digital news platform. The leading online multimedia news resource in Barbados for news you can trust. You may also like Updated: Wanted man Zion Jackson in custody 18/02/2025 Update: Person of interest identified and charged 18/02/2025 Man remanded on firearm and ammunition charges 18/02/2025