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| January 30, 2018

The EU has crossed out eight tax havens from the blacklist

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The European Union has crossed out 8 tax havens, which have promised to reform and to cooperate better with the EU in the tax area, from the blacklist. More specifically, these are Panama, Barbados, Grenada, South Korea, Macao, Mongolia, Tunisia and the United Arab Emirates. The countries have been transferred to the so-called grey list, which means that the EU will continue to monitor them closely.

The EU has called upon the finance ministers of the individual countries to publish their commitments in the tax area. In order that the media and the public, for example, could also keep track of whether or not they are being met.

In this context, the EU also negotiated about the sanctions to be imposed on countries on the blacklist.

The grey list of monitored countries now includes more than 50 countries. The countries remaining on the blacklist are: Bahrain, Guam, Marshall Islands, Namibia, Palau, Saint Lucia, Samoa and Trinidad and Tobago.