Sarkozy wants Seychelles banned because it is a ‘Tax Haven’

Sarkozy and MichelFrench President Nicolas Sarkozy has spoken very strongly against 11 countries which the G20 grouping considers to be Tax Havens. Among them is Seychelles. 

The very outspoken French President has told the Challenges. Fr Economic Magazine  “these 11 countries should be banned by the International community”.

He said “these countries do not have a judicial framework in place adaptable in exchanging fiscal information”.

The other countries cited by Sarkozy are Antigua, Barbuda, Barbados, Botswana, Brunei, Panama, Trinidad and Tobago, Uruguay, and Vanuatu.

Mr Sarkozy recalled that three years ago he threatened to leave the G20 Summit in London if the list of countries considered as tax haven is not published.

This latest revelation comes at a time when Seychelles was once again being dragged through the controversy of being labeled a Tax Haven despite what the authorities say they have been doing to get rid of that tag.

Late in October the ‘Forum mondial sur la transparence et l’échange de renseignements a des fin fiscales’ was held in Paris.

At the forum, Seychelles was singled out as one of the countries which do not have a judicial framework adaptable in exchanging fiscal information.

Mr Steve Fanny the CEO of the Seychelles International Business Authority explained that this statement is “correct, given that we have had 2 elections and a host of pressing issues had to be brought to the National Assembly. Seychelles has requested for an extension to enact all the necessary legislations which the Organisation for Economic CO-operation and Development (OECD) has accepted”.

Mr Fanny said that the commitment of the authorities to adhere to international standards and keeping Seychelles on the white list remains firm”.

Now that the National Assembly is back in session, hopefully the necessary legislation will be brought before the MNAs very soon, because as fervent patriots we certainly do not want to tarnish the country’s reputation, now, do we?

 

Source: Le Seychellois Hebdo 11-11-11

 

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