Weather Fiji, Suva   Max 30°C, Min 23°C

Fiji Sun

SUNBIZ

Fijian Envoy Calls On The Eu To Re-Examine Criterea On List Of Non-Cooperative Tax Jurisdictions

Fijian Envoy Calls On The Eu To Re-Examine Criterea On  List Of Non-Cooperative Tax Jurisdictions
Front: Fiji’s head of Mission to the European Union (EU) Ambassador Deo Saran.
November 01
12:24 2018

Fiji’s Head of Mission to the European Union (EU), Ambassador Deo Saran expressed deep concerns on the EU’s unilateral decision to compile a list of non-cooperative jurisdictions for tax purposes and called for examination of the criteria to allow for African, Caribbean and Pacific (ACP) States to retain sufficient policy space to incentivise development.

Ambassador Saran made the remarks while delivering an intervention at the 21st meeting of the ACP Ministerial Trade Committee on 25 October.

“It is our considered view that the EU needs to engage in further dialogue with the ACP States to better understand the adverse impact such measures will have on the their economies.”

“Fiji’s, and like many other ACP States, we have been placed in the ‘grey list’ and are subjected to onerous undertakings to be carried out by end of 2018.”

Ambassador Saran went on further to inform the MTC that Fiji had responded to the issued raised by the EU.

“Fiji has Double Tax treaties with many of our trading partners and this arrangement has provided the platform for active exchange of information, which has been very effective. The EU’s criteria requires Fiji to sign an Automatic Exchange of Information (AEOI) and whilst the intentions are fully supported, Fiji feels that a cost benefit analysis is required. Regardless, Fiji has recently engaged with the OECD asking them to undertake an impact analysis of joining Global Forum on tax transparency and exchange of information.”

“With regards to the EU listing criteria on fair taxation, Fiji’s tax incentives are promoting real economic activities with physical economic presence. The incentives cited by EU are not harmful as these does not lead to artificial shifting of profits.”

“The EU had further raised concern on our commitment to adopt anti Base Erosion and Profit Shifting (BEPS) measures. Fiji’s strong commitment is demonstrated through the signing of the Multilateral Instrument with the OECD to prevent tax treaty abuse.”

Ambassador Saran underscored that Fiji remains committed to comply with the EU Code of Conduct, however, it should not have detrimental impact to our economy by limiting policy space to introduce targeted incentives to stimulate economic growth through trade and foreign direct investment.

Source: DEPTFO

Feedback:  maraia.vula@fijisun.com.fj

 

 

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Your email address & phone number will not be published.
Required fields are marked *

you said it
"I support it 200 percent, I am with FRU, the country and the people of Fiji. We want to bid to get one of the HSBC stops in Fiji."
Waisale Serevi
Sevens Legend
November 2018
M T W T F S S
« Oct    
 1234
567891011
12131415161718
19202122232425
2627282930  

Latest Photo Gallery

Fijisun Online @Instagram