From Global Regulation & Policy

Tax & Sovereignty in the 21st Century

On 26 February this year, CARICOM’s Secretary-General, Ambassador Irwin LaRocque, voiced considerable concern that “the constantly shifting parameters for good tax governance set out by the European Union (EU) are encroaching on the Region’s sovereignty”. Objections against the encroachment of sovereignty through tax regulation by the Organisation of Economic Development (OECD) and the European Union (EU) have been voiced repeatedly for almost 20 years now, with the organisations’ policies having been likened to ‘‘fiscal colonialism’’ , or similar, by a number of commentators. In fact, the (potential) impact of such regulation has been the subject of considerable scholarship.