On 21st March, the EU published a news release saying that the guidelines mark the first step in stopping the transit of EU funds through non-cooperative tax jurisdictions, and will ensure that EU funds do not inadvertently contribute to global tax avoidance. They should guarantee in particular that EU external development and investment funds cannot be channelled or transited through entities in countries on the EU’s common list. In order to safeguard the EU’s development policy, an exception is made for direct financing, where a project is physically implemented in a listed non-cooperative tax jurisdiction and is not linked to money-laundering, terrorism financing, tax fraud or tax evasion.
http://europa.eu/rapid/press-release_IP-18-2245_en.htm
The Guidelines are at –
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