EU publication of tax havens blacklist 23.01.2018

Author: Multilysis Services Limited
Date: 2018-01-23

The European Union has published on 23.01.2018 a new blacklist of tax havens, naming only 9 countries out of the 92 included initially. The European Union finance ministers agreed on 23.01.2018 to remove 8 jurisdictions, including much-criticised Panama, from the bloc’s blacklist of tax havens. Barbados, Grenada, South Korea, Macao, Mongolia, Tunisia and the United Arab Emirates joined Panama as jurisdictions delisted “following commitments made at a high political level to remedy EU concerns,” according to ministers’ statement.  Ministers said the delisting was a sign that the process was working as countries around the world were harmonizing EU standards on tax transparency.

The 9 remaining blacklisted countries are:

  • American Samoa
  • Bahrain
  • Trinidad and Tobago
  • Guam
  • The Marshall Islands
  • Namibia
  • Palau
  • Saint Lucia
  • Samoa

The eight delisted jurisdictions have been moved to a so-called grey list, which comprises of 47 other jurisdictions that have committed to altering their tax rules to follow EU standards on transparency and co-operation.   Countries on the grey list can be moved back to the blacklist if they fail to respect such engagements.

For more information on EU publication of tax havens blacklist 23.01.2018.

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