EU to broaden tax haven blacklist, weighs UAE, Bermuda listing
06 Mar 2019

European Union states have added 10 jurisdictions to a draft tax haven blacklist, including the United Arab Emirates (UAE) and Bermuda, an EU official told Reuters on Tuesday, in a move that would triple the number of listed countries.

The measure comes more than one year after the bloc decided to blacklist jurisdictions that are non-cooperative on tax matters and to monitor countries that commit to change their tax rules to comply with EU standards.

In a meeting on Wednesday, EU envoys are set to agree on the new list which will then be formally adopted by EU finance ministers in a meeting on March 12.

By Francesco Guarascio, Reuters, 5 March 2015

Link to Reuters

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2 Responses to “EU to broaden tax haven blacklist, weighs UAE, Bermuda listing”
James Michaels

James Michaels March 7, 2019

The EU needs to review the Republic of Seychelles which has received on of the lowest FATF ratings in its most recent report: 10 Low Compliance ratings of a total of 11 measurements. Seychelles law has recently been amended by to 1) Grant a constitutional guarantee of immunity from recovery for foreign tax evaded funds lodged in Seychelles banks, and 2) expressly remove tax crimes from money laundering or criminal proceeds investigation 3) grants immunity for all crimes committed overseas which are not defined as crimes in Seychelles ( including tax evasion and the financing of proliferation which are not defined in Seychelles law).

Alan

Alan March 11, 2019

But they refuse to add Saudi Arabia and Panama to the list, which to most compliance professionals is staggering!

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