Trinidad and Tobago Tax-Free Zones Still ‘Harmful': OECD

The OECD will continue to label Trinidad and Tobago’s free trade zone rules as “harmful” after the country failed to abolish a regime as seen as encouraging tax avoidance.

The island nation is one of three countries identified as “harmful” by an Organization for Economic Cooperation and Development forum tasked with reviewing the preferential tax regimes countries offer to ensure companies aren’t avoiding taxes. The forum reviewed 18 other jurisdictions, including the U.S. and the Philippines, in its latest peer review released Thursday.

• Trinidad and Tobago’s special economic zone had been classified as “harmful” by the forum in 2017. ...