(NATION NEWS) – Barbados has lots of reasons to be rejoicing today.
The country is set to be removed from the European Union’s (EU) damaging tax list.
Reuters news agency reported yesterday that EU officials had proposed to remove eight of the 17 jurisdictions it recently blacklisted as non-cooperative tax jurisdictions after they offered to change their tax rules.
Barbados, Panama, South Korea, the United Arab Emirates, Grenada, Macao, Mongolia and Tunisia are the jurisdictions that EU officials have recommended be delisted.
The proposal will be discussed at a meeting of EU ambassadors tomorrow and is expected to be adopted by EU finance ministers when they meet next week Tuesday in Brussels for monthly talks.