Taxation in Grenada

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The leader of heavily indebted Grenada is preparing to lower the income tax threshold and make new efforts to catch tax dodgers.

Grenada will strive to uphold the highest standards of tax transparency and an effective system for the international exchange of tax information, committing to meet the standards of international best practices and to further improve its national finance regulations.

Dominica, Grenada and Saint Lucia have been moved into the category of jurisdictions considered to have substantially implemented the standard on transparency and exchange of information, having now all signed at least 12 exchange of information agreements conforming to the standard.

We welcome the fiscal consolidation plan and loan package agreed by the Greek government, its Euro area partners and the International Monetary Fund. The plan provides Greece with the breathing space it needs to bring its public finances under control. Its full and timely implementation will stabilise public debt and strengthen the economy.

The Australian Government has signed eight new bilateral Tax Information Exchange Agreements (TIEA) in a concentrated effort to enhance global tax transparency and reduce offshore tax evasion.