"The removal of Seychelles on EU's list of non-cooperative jurisdictions for tax purposes is more reflective of the current state of Seychelles' compliance", says Minister Hassan
February 21, 2024
Seychelles has welcomed the EU position to remove it on the list of non-cooperative jurisdictions for tax purposes.
In a press release issued today, one day, after the EU made public its position, the Minister for Finance, National Planning and Trade, Naadir Hassan said “we are pleased that the Global Forum and EU Council positions are now more reflective of the current state of play of the Seychelles’ compliance with the standards on tax transparency, and that they recognize the progress and commitment of the country with meeting these standards.”
Speaking to the local media this morning, SS Patrick Payet and Ms. Odile Vidot explained that Seychelles submitted a request for a peer review in Mid-December, 2023.
"The request was submitted on the basis of significant improvements in relation to the quality and timeliness of exchange of information (EOI) requests and maintained and improved supervision and enforcement activities to ensure compliance with the framework. The Peer Review Group (PRG) of the Global Forum approved the proposal that these represented sufficient likelihood of an upgrade to the overall rating of Seychelles against the Standard such that the country qualified for a supplementary review."
This review will be launched in 2025 and include an on-site visit by the assessment team.
Meanwhile, Minister Hassan has reiterated his position for the EU to review and apply fairness in its assessment.
"“We continue to urge of the need to review the methodology for assessment of a jurisdiction’s compliance with the Standards, to ensure that reports and associated lists appropriately reflect the current state of a country’s commitment, and do not disproportionately damage jurisdictions for legacy matters.”
Read the full press release below.
Seychelles-position-on-being-removed-on-EU-list-of-non-cooperative-jurisdictions-for-tax-purposes
Video summary of the press conference this morning.
https://youtu.be/e3ufqd6vI70
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