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Netherlands Antilles challenges EC's 'tax haven' label

Posted: 19 August 2008

The State Secretary of Finance for the Netherlands Antilles, Alex Rosaria has this called on the Tax Directorate of the European Commission to remove the jurisdiction from tax haven ‘blacklists' in some EU member states.

Mr Rosaria argued that the Netherlands Antilles is committed to providing a financial service industry with high-end supervision in line with international standards to protect the consumer.

He observed that: "We are an active and a complying member of various international organizations such as the OECD, the Egmont Group, the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF)."

The Netherlands Antilles is recognized by the OECD as a co-operative jurisdiction; in April 2008 the Egmont Group gave the Netherlands Antilles its seal of approval, and the IMF in its most recent Article IV Consultation concluded that "The financial sector of the Netherlands Antilles is broadly healthy".

Mr Rosaria said: "Any reference to us being a tax haven" is totally misguided, contradictory and unjust. If we were a tax haven Spain would not have concluded a Tax Information Exchange Treaty with us in June 2008".

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