Inaccurate info led to TT’s blacklisting

Information presented to the Global Forum that led to TT being named as a tax haven and subsequently being blacklisted “is not accurate, and is not an accurate reflection of our status,” says Prime Minister Dr Keith Rowley.

Asked in the House of Representatives yesterday what measures Government will be adopting to deal with the issue, Rowley said the matter was being dealt with by Attorney General Faris Al-Rawi, who had made a lot of progress with respect to TT’s qualifications.

Al-Rawi, he said, has addressed this issue several times over the past two to three weeks.

The blacklisting, he said, “is the outcome of inactivity on the part of the Government of TT.”

At this point in time, he said, TT does not report to the Europe-based Global Forum.

To give clarity to the situation, he said, in 2011 under the previous administration, TT chose to subject itself to the Global Forum oversight.

“In 2014, TT reinforced that position but did nothing to put us in a position to execute that commitment. Therefore now we have been lumped by those in that basket,” he said.

What was not being said, he said, “is that in the last 24 months, this Government has done yeoman service in trying to bring us to a position to avoid these kinds of labels.”