Saturday, April 1

The EU keeps Panama and eight other countries on the list of tax havens

The Twenty-seven have decided this Thursday to keep Panama, Fiji, Trinidad and Tobago, the Virgin Islands, Palau, Samoa, American Samoa, Vanuatu and Guam on their blacklist of tax havens, considering that they have not carried out the required reforms.

The EU thins its list of tax havens amid the Pandora Papers scandal

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The list is updated every six months and remains unchanged, although last October the European Union excluded Anguilla, Dominica and Seychelles from this classification, leaving it with nine territories.

The Member States have rejected that these jurisdictions continue without cooperating at the tax level and have invited them to resolve the incidents in accordance with the Code of Conduct. The EU list of tax havens tries to combat fraud, tax evasion and money laundering.

In addition, the Twenty-seven have modified the so-called gray list that includes countries that have committed to improving fiscal transparency, a category that includes Turkey, Costa Rica, Hong Kong, Malaysia, Qatar, Uruguay, Jamaica, North Macedonia North and Jordan.

In addition, the Russian Federation is listed as one of the countries that has committed to reforming its tax regime before the end of this financial year. The list made public this Thursday was made in advance of the current geopolitical tensions and, therefore, is not connected with the Russian military operation in Ukraine, community sources have pointed out.

The reason for including Russia in this category is linked to transparency, community sources have pointed out, recalling that in the previous update of October 2021, Russia announced its plans to improve its tax legislation. “Russian officials are cooperating and working to fight corporate tax evasion and detect loopholes,” community sources said.

The first list of tax havens in the EU was approved in December 2017 and since then several modifications have been approved based on the dialogue established with the jurisdictions that are part of it and the commitments acquired in that framework.