The European Union has published its blacklist of tax havens, naming 17 countries out of the 92 included initially.
An additional “watchlist” of 47 countries promising to change their tax rules to meet EU standards has also been issued.
Both lists have been criticised as omitting the most notorious tax havens.
EU Tax Commissioner Pierre Moscovici said the blacklist represented substantial progress, adding: Its very existence is an important step forward. But because it is the first EU list, it remains an insufficient response to the scale of tax evasion worldwide. He also said that EU members should re-evaluate, within six months, the compliance course of the 47 countries included in the “watchlist”.
The 17 blacklisted countries are:
The EU made exceptions for countries faced with natural disasters such as hurricanes, and put the process temporarily on hold.
The “watchlist” of the “47” includes, amongst other, the following countries: Turkey, The Isle of Man, Bermuda, Cayman Islands, Maldives and Jordan.