21 May 2018
European Union finance ministers are set to remove the Caribbean islands of the Bahamas and Saint Kitts and Nevis from an EU list of tax havens next week, EU documents show.
The two islands had been included in the blacklist in March as their tax rules and practices were deemed not in line with EU standards.
After they committed to changes, EU tax officials recommended moving them from the blacklist to a so-called grey list of jurisdictions with low tax transparency standards but aiming to become less opaque, an EU document shows.
EU finance ministers in a regular meeting on Friday next week are expected to formally adopt the removal decision, according to a draft agenda of the meeting and an EU official contacted by Reuters.
Seven other jurisdictions will remain on the blacklist. They are Namibia, Palau, Samoa, Trinidad and Tobago and the three United States’ territories of American Samoa, Guam and the U.S. Virgin Islands.
– By Francesco Guarascio, 18 May 2018, Reuters
Link to Reuters.
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