Friday, 21 January, 2022

European Union: a new blacklist of tax havens adopted

The 28 EU finance ministers on Tuesday March 12 adopted a new blacklist of tax havens, adding 10 new bad students, including the United Arab Emirates (UAE), to bring the total to 15 countries. In addition to the 5 already on the list – American Samoa, Samoa, Guam, Trinidad and Tobago and the American Virgin Islands – have been added: Aruba, Belize, Bermude, Fiji, Oman, Vanuatu, Dominica, Barbados, Arab Emirates United and the Marshall Islands.

The UAE’s presence on this blacklist has posed a problem, with Italy reluctant to classify a major economic partner as a bad performer. This Gulf country has indeed made significant investments in Italy. On his arrival at the meeting of the 28 in Brussels, the Italian Minister of Finance Giovanni Tria had expressed his doubts.

“This is not a veto, it is about expressing an opinion that the Emirates have presented to the Commission new legislation that they must approve and which is fully in line with what is asked, “explained Mr. Tria. “It is only a problem of time (…) Anyway, everything will be solved when this legislation is approved and therefore the Emirates, if today I am realistic, will come out immediately afterwards”, he said. he adds.

This list, which now numbers 15 countries, was first drawn up in 2017 following several scandals, including the Panama Papers and LuxLeaks, which have pushed the EU to do more to fight tax evasion. multinationals and the rich.

(With AFP)


Tax Paradise