Trinidad and Tobago is now one of only five countries in the world that is blacklisted by the European Union as a tax haven.
On Tuesday European Union finance ministers removed Namibia from the bloc's blacklist of tax havens after it committed itself to changing its tax rules and practices.
The move brought the list down to only five non-cooperative jurisdictions - Samoa, Trinidad and Tobago and the three United States' territories of American Samoa, Guam, and the US Virgin Islands.
The finance ministers of the 28 European Union member states have removed two countries St Kitts and Nevis and the Bahamas from the blacklist of tax havens.
Trinidad and Tobago, however, remains one of only seven countries still blacklisted.
The communique of the Council of Finance Ministers confirmed the seven countries that remain on the blacklist: Guam, Namibia, Palau, Samoa, American Samoa, Trinidad and Tobago and the US Virgin Islands.