Tax haven label

GEORGETOWN: The 15-nation Caribbean Community and Common Market (CARICOM) is fighting the perception that the region is a tax haven after the huge leak of confidential documents from a Panama-based law firm that specialises in offshore finance. CARICOM said financial industry regulations in the region fully comply with international standards that are overseen by such institutions as World Bank, International Monetary Fund and Organisation for Economic Cooperation and Development, Financial Action Task Force and Caribbean Financial Action Task Force.