Montserrat Signs Tax Agreement

LONDON, England CMC – Montserrat has signed an Inter-Governmental Agreement to improve international tax compliance as part of several measures that Britain’s Overseas Territories have agreed to adopt in June.

Premier Rueben Meade and Foreign and Commonwealth Office (FCO) Minister for the Overseas Territories, Mark Simmonds signed the agreement reached during the United kingdom-chaired G8 summit in Ireland in June.

The agreement provides an opportunity for the United Kingdom and its Overseas Territories to work together on a wide range of issues and to agree to priorities and plans for implementation.

The annual meeting, which is being hosted by the (FCO), brings together political leaders and representatives of the UK and OT leaders.

Meade is in London for the second annual Overseas Territories (OTs) Joint Ministerial Council (JMC) meeting which began last week.

The meeting provides a forum for the exchange of views on political and constitutional issues.

This year’s meeting also features a business forum, which would expose UK businesses and investors to the Overseas Territories.

The FCO Minister said the discussions focused on renewable energy, increasing economic growth and creating jobs. He described the Overseas Territories as having an abundance of natural energy sources with exciting potential.

Meanwhile, Simmonds has described his meeting with Premier Reuben Meade as positive and also confirmed that a fast ferry is in place for Montserrat’s 2013 festival.