The EU has broadened its blacklist of tax havens, adding 10 new jurisdictions; Aruba, Barbados, Belize, Bermuda, Fiji, the Marshall Islands, Oman, the United Arab Emirates, Vanuatu and Dominica. They join Samoa, Trinidad and Tobago, and three U.S. territories of American Samoa, Guam, and the U.S. Virgin Islands which were already listed. The European Commission created its blacklist in December 2017 after revelations of widespread tax evasion schemes (“Panama Papers”) used by corporations and high net worth individuals to reduce their tax liabilities. Listed jurisdictions face enhanced financial scrutiny but as yet no sanctions.
Dennis Swing Greene
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