CHARLESTOWN – St. Kitts and Nevis have been excluded from a list of “non-cooperative jurisdictions” published on Tuesday by the European Union (EU) Council of Taxation, Premier of Nevis Hon. Mark Brantley said.
St. Kitts and Nevis had to make changes to the Federation’s banking and finance laws to address what the EU called harmful tax practices to meet a deadline on the last day of 2018 to avoid blacklisting by the latter.
“The fact that St. Kitts and Nevis is omitted from the blacklist is noteworthy because it means that Nevis in particular, can now move quickly to preserve and protect its financial services sector by undertaking further reviews and amendments of existing legislation,” Brantley said.
Tuesday announcement is the first response the Federation has received to their legislative changes since making them on Dec 31.
Brantley has also called on the EU to adopt a different and consultative approach to “such matters”.