Trinidad And Tobago Removed From EU Tax List

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UPDATE: Prime Minister the Honourable Kamla Persad-Bissessar, SC, MP, has issued the following statement after the announcement that Trinidad and Tobago has been removed from the EU tax list: 

“Trinidad and Tobago is no longer blacklisted. Our country has officially been removed from the European Union’s list of non-cooperative jurisdictions for tax purposes — a designation applied to countries that fail to meet international standards for tax transparency. 

This is a major step forward.

The previous PNM administration failed to take the necessary actions to secure compliance and removal. Since assuming office, your UNC Government moved swiftly and decisively to fix it.

Through legislative reform, sustained international engagement, and stronger institutions, we restored credibility and rebuilt trust.

Blacklisting constrained investment, limited opportunity, and weakened confidence in our financial system. In less than a year, we strengthened our laws, enhanced transparency, and put Trinidad and Tobago back on the right track.

Removal from the list signals clearly to the world: we have met our commitments and reclaimed our standing on the global stage. We inherited an economy under real strain, with fiscal pressures high and confidence low. But we promised action — and we are delivering.

Investor interest is rising. Confidence is returning. Momentum is building.

Trinidad and Tobago is open for business, compliant, and ready for sustainable growth.”

Trinidad and Tobago has been officially removed from the EU list on non-cooperative tax jurisdictions, following a decision by the European Union's Economic and Financial Affairs Council on Tuesday (17th February, 2026).

In a Media Release today (Wednesday 18th February, 2026), the Ministry of Finance said, “This important milestone reflects several years of sustained commitment, constructive dialogue, and close cooperation between the Ministry of Finance of Trinidad and Tobago and European Union authorities, aimed at aligning with internationally agreed standards for tax good governance.”

Hailing the decision, EU Ambassador to Trinidad and Tobago, H.E. Cécile Tassin stated: “The progress made by Trinidad and Tobago on the path towards meeting the internationally agreed standards on tax good governance is impressive. These efforts should be commended. They are a positive sign for the continued strengthening of our partnership.”

Following this announcement, Minister of Finance, Davendranath Tancoo, stated: “We warmly welcome and celebrate the significant progress that Trinidad and Tobago has achieved in its engagement with the European Union on matters of international tax good governance. This milestone reflects my Government's sustained commitment to transparency, fairness and adherence to internationally accepted standards. This achievement underscores our dedication to implementing robust global tax standards and strengthens confidence in our economic and regulatory frameworks. We express our appreciation to our partners in the European Union for recognizing the reforms we have undertaken, and we look forward to deepening our collaboration as we continue building a modern, competitive, and globally integrated economy.”

According to the Ministry, “The EU tax listing process supports global efforts to combat tax evasion and avoidance risks, strengthen transparency, and promote fair and responsible taxation worldwide. By meeting these standards, Trinidad and Tobago reinforces its reputation as a reliable and cooperative international financial partner while contributing to broader international efforts to reduce illicit financial flows and tax abuse. Trinidad and Tobago took a key step to achieve this positive result, in replacing its former Free Trade Zone regime, which was found harmful, with a Special Economic Zone regime that meets the international standard.”

The Ministry added, “Between 2024 and 2025, Trinidad and Tobago also made major progress in strengthening tax transparency standards. In July 2025, Trinidad and Tobago signed the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters in November 2024 and received a ‘Largely Compliant’ rating from the Global Forum on Transparency and Exchange of Information for Tax Purposes on exchange of information on request. Then, in December 2025, the Global Forum confirmed that Trinidad and Tobago's laws met the standards for the automatic exchange of financial account information as well. Trinidad and Tobago also addressed the BEPS Inclusive Framework's general recommendations on Country-by-Country reporting (CbCR) to prevent profit shifting by multinational companies.”

The Media Release concluded by saying, “These reforms marked the successful completion of a comprehensive reform agenda, enabling the European Union to remove Trinidad and Tobago from the EU tax list in February 2026. This achievement highlights the country's strong reform trajectory and underscores the benefits of international cooperation in promoting transparency, fairness, and sustainable economic growth.”

More on this as it becomes available.

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