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EU recommends removing eight jurisdictions from tax haven blacklist

17/01/2018 News Team

The European Union (EU) has proposed the removal eight jurisdictions from the blacklist of tax havens published in December, according to EU documents seen by Reuters.

Panama, South Korea, the United Arab Emirates, Barbados, Grenada, Macao, Mongolia and Tunisia are the jurisdictions that EU officials have recommended be delisted after they offered to change their tax rules.

The removal of Bahrain was also initially considered, but its delisting was eventually not recommended, according to Reuters.

The proposal will be discussed at a meeting of EU ambassadors on Wednesday 17 January.

Jurisdictions set to remain on the blacklist are American Samoa, Bahrain, Guam, the Marshall Islands, Namibia, Palau, Saint Lucia, Samoa, and Trinidad and Tobago.

The proposal for the delisting was made by the so-called Code of Conduct Group, which monitors countries’ commitments to abide by EU standards on tax matters.

Following their delisting, the eight jurisdictions will be moved to a "grey list" which includes those who have committed to change their rules on tax transparency and cooperation. The grey list currently includes 47 jurisdictions.

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