PM Comments on EU Blacklisting Belize’s Offshore Sector

Dean Barrow

Last week Belize was blacklisted by the European Union, along with thirty other countries. The European Union claims that Belize is a tax haven for companies which are seeking to avoid paying taxes. It’s just another in a series of hits from the international community against the offshore sector, and Prime Minister Dean Barrow says that faced with that kind of sustained pressure, the writing is on the wall where that sector is concerned.

Dean Barrow, Prime Minister

“The international community is determined and has been determined for a while to close down our offshore sector. This is just a continuation of the kind of actions they have been taking over a period of time now. Stretching back to try to achieve their objective; what I saw, somebody made the point that their own offshore jurisdiction I love they said nothing about them so that is what is involved there. I have no doubt that sooner or later they will succeed. This is the empire striking back but I think our offshore people have been preparing themselves for a while now because it has been like I said a constant onslaught. I am sorry to say that I wouldn’t be surprised that if in the end they don’t achieve their objective.”

Belize, along with other countries in the Caribbean that have been blacklisted, are being urged to adopt international standards to combat tax evasion.