The St. Lucia government says it will introduce tax reform measures to bring the country in line with European Union standards, after the country was among four Caribbean nations on a list of 17 global tax havens released by the EU.

Minister in the Ministry of Finance, Senator Ubaldus Raymond made the disclosure even as he insisted St Lucia is not a tax haven.

He said the new tax rules are likely to be unveiled in the next budget and the country – which was on the list along with Barbados, Grenada and Trinidad and Tobago – is hoping to be off the blacklist soon.

According to the St. Lucia Times, Raymond insisted that St. Lucia has complied with all the requirements of international regulatory institutions, noting that Prime Minister Allen Chastanet signed the automatic exchange of information in November last year.