EU TAX HAVEN BLACKLIST INCREASES TO INCLUDE 15 COUNTRIES

On 12th March, EurActiv reported that EU finance ministers have approved the addition of 10 more countries to the EU’s blacklist of tax havens, from 5 to 15.  The 5 original jurisdictions were Samoa, Trinidad and Tobago, American Samoa, Guam and the US Virgin Islands.   To these have been added Aruba, Barbados, Belize, Bermuda, Dominica, Fiji, Marshall Islands, Oman, UAE, Vanuatu.  The new territories have moved from the ‘grey list’ to the blacklist because they failed to implement reforms in the 1-year deadline which had been set.  A total of 62 jurisdictions were given 1 year, until the end of 2018, to comply with EU tax standards – and of the 62, 28 have complied.  This blacklist is different from the money laundering blacklist, recently rejected by Member States (with the EU Commission told to compile a new, replacement list).

https://www.euractiv.com/section/economy-jobs/news/eu-tax-haven-blacklist-triples-to-include-15-countries/

http://europa.eu/rapid/press-release_MEMO-19-1629_en.htm

http://europa.eu/rapid/press-release_IP-19-1606_en.htm

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s