... Attorney wants EU brought before international courts

A St Vincentian opposition legislator, incensed at the move by the European Union to force Caribbean Community, (CARICOM) countries to adopt measures regarding the establishment of international businesses in the region, wants the matter to be taken before international courts.

Last week, Prime Minister Dr Ralph Gonsalves called for a unified CARICOM approach to the issue after telling legislators that some countries "have surrendered or are inclined to surrender".

Attorney Kay Bacchus-Baptiste, an opposition member, said Kingstown should consider taking legal action against the EU over its "extra-territorial" actions to force small states to enforce its tax laws.

Legislators have been debating the International Business Companies (Amendment and Consolidated) (Amendment) Bill, 2018, and Bacchus-Baptiste said she smiled when she read the words "harmful taxation".

"Harmful to whom? From whose perspective? And so, I also feel that what the European Union is doing is illegal, and I do not think that creative resistance by just saying so is enough," she said, adding "I think we have to go further. I think we should challenge it in the international courts of justice because you are using your power to enforce your view.

"And I do agree that it is ruling extraterritorially. And to say it with indignation and just sit down will not make one single difference," said Bacchus-Baptiste, a former agent in the international business sector, who warned that the EU move would, in effect, destroy the industry in small states.

Blacklisted by EU

Grenada is among several countries blacklisted by the European Union in 2017 as having harmful tax legislation.

Bacchus-Baptiste said the region must take some of the blame for allowing the EU, the Organisation for Economic Co-operation and Development and the Financial Action Task Force to destroy the region's international business sector.

"They call it 'offshore business'. That was a bad word then. Then 'international business'. Now we have to take out the word 'international'. I think we are at fault. I think we are at fault for allowing them to define our business, define the industry," she said.

"I think we are at fault even among our own nationals here in St Vincent, because a lot of them do not really understand what the international business is about, and a lot of them regard it as maybe just dealing with corruption or money laundering, etc and we let them get away with it," she added.

Bacchus-Baptiste called on CARICOM leaders to redefine the IBC sector "so that our citizens will understand that it is not a bad word to say offshore companies or international business companies."

She said the region should explain how lawyers, accountants, secretaries, office attendants, registered agents and other persons are employed in the sector, and the money that is regenerated in the society.

- CMC