The EU Published a "Black" List of 17 Offshore Zones
European Union finance ministers adopted on Tuesday a blacklist of tax havens which includes 17 extra-EU jurisdictions seen as not cooperative on tax matters, French Finance Minister Bruno Le Maire said.
American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates are the countries listed, officials said.
Le Maire said that other 47 jurisdictions are included in a public “gray” list of countries that are currently not compliant with EU standards but have committed to change their tax rules.
Following multiple disclosures of offshore tax avoidance schemes by companies and wealthy individuals, EU states launched a process in February to list tax havens in a bid to discourage setting up shell structures abroad which are themselves in many cases legal but could hide illicit activities.
Blacklisted countries could lose access to EU funds. Other possible countermeasures will be decided in coming weeks, Le Maire said.
- » IMF Chief: Clouds over Global Economy are 'Getting Darker by the Day'
- » The IMF Provides a $ 50 Billion Loan to Argentina
- » Erdogan Claims Turkish Lira’s Loss in Value a Manipulation against Turkey
- » Every third Bulgarian has had Outstanding Loans, According to Eurostat
- » EC Predicts 3.8% Growth in Bulgaria in 2018
- » The Debt of Bulgaria for 2017 Amounts to BGN 25,064 Million