Dookeran was responding to the French leader's call to the G20 group of countries to shun 11 countries, including Trinidad & Tobago, for failing to correct what he said are tax loopholes that make the states tax havens.
In his closing remarks at the recent G20 summit in France, Sarkozy urged leaders to shun the countries for failing to implement proper taxation laws.
"We don't want any more tax havens. Our message is clear. Countries that remain tax havens will be shunned by the international community," the French leader said.
The 11 countries include three Caribbean states: Antigua, Barbados and Trinidad & Tobago.
The others are Botswana, Brunei, Panama, Seychelles, Uruguay, Vanuata, Switzerland and Liechtenstein. Sarkozy said these countries are not doing enough to end banking secrecy.
However, Dookeran said citizens should not be bothered about what Sarkozy had to say, noting that the global body that promotes transparency in taxation matters is not the G20 but an agency of the Organisation for Economic Co-operation and Development (OECD).
He said that body conducts a peer review “in order to come to conclusions regarding the adherence to the international standards.”
Dookeran said Cabinet has taken a decision to become a member of the OECD group and "we are currently involved in that peer review process". He said he plans to contact the French embassy in Port of Spain to get "clarity as to what was the meaning behind that statement.”
The finance minister added that the country will continue to meet the intentional standards as required in the peer review.
“We are dealing with the global forum in the OECD and he is speaking from a platform of the G20,” Dookeran added.
“So all I can say it is premature and perhaps improper, given that we are involved in the peer review to meet intentional standards.”
Dookeran said the People’s Partnership Government has been trying to rectify the situation, adding that he has no doubt that the matter will be resolved.
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