Summary
- Prime Minister Kamla Persad-Bissessar says Trinidad and Tobago has been removed from the EU list of non-cooperative tax jurisdictions.
- The EU’s Economic and Financial Affairs Council delisted T&T on Tuesday after it met all compliance benchmarks.
- Persad-Bissessar said reforms, transparency measures and international engagement helped restore credibility and investor confidence.
- AMCHAM T&T congratulated the Government and Finance Ministry, citing the work led by Finance Minister Davendranath Tancoo.
- AMCHAM says the delisting should improve market access, reduce reputational risk, boost investment competitiveness and support financial services.
By Alicia Chamely
TRINIDAD and Tobago is open for business, compliant and ready for sustainable growth, Prime Minister Kamla Persad-Bissessar said as she announced the country’s removal from the European Union’s list of non-cooperative jurisdictions for tax purposes.
On Tuesday, the European Union’s Economic and Financial Affairs Council removed Trinidad and Tobago from the list, stating that the country had met all compliance benchmarks.
Persad-Bissessar took to social media on Wednesday to announce the development, describing it as “a major step forward.”
“Through legislative reform, sustained international engagement, and stronger institutions, we restored credibility and rebuilt trust,” she wrote.
“Blacklisting constrained investment, limited opportunity, and weakened confidence in our financial system. In less than a year, we strengthened our laws, enhanced transparency, and put Trinidad and Tobago back on the right track,” she added.
Persad-Bissessar said the EU’s decision showed the Government had “met our commitments and reclaimed our standing on the global stage.”
Saying her administration was delivering on its promise to act swiftly to strengthen and expand the economy, she wrote: “Investor interest is rising. Confidence is returning. Momentum is building.”
“Trinidad and Tobago is open for business, compliant, and ready for sustainable growth,” she said.
In a separate media release on Wednesday, the American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T) congratulated the Government and the Ministry of Finance on the country’s removal from the EU list.
AMCHAM T&T said the development marked a significant milestone in strengthening Trinidad and Tobago’s international financial reputation and recognised the work undertaken by Finance Minister Davendranath Tancoo and the Ministry.
“AMCHAM T&T recognises the sustained engagement and technical work undertaken by the Honourable Davendranath Tancoo, Minister of Finance, the dedicated public servants in the Ministry of Finance, as well as other government ministries to achieve this outcome,” the Chamber said. “We view this progress as a positive step toward reinforcing the country’s economic resilience and global credibility.”
The Chamber said the delisting is expected to improve access to international financial markets, reduce reputational and compliance risks, support Trinidad and Tobago’s competitiveness as an investment destination, and strengthen the financial services sector.
AMCHAM T&T, which said it worked with the Ministry of Finance to advocate for the country’s removal from the EU list, added that it looks forward to continued collaboration to support an enabling business environment that benefits both the private sector and the national economy.
