The EU updated the black list of tax havens
Twenty-seven countries are part of the so-called list of non-cooperative jurisdictions in fiscal matters and Panama is once again on the list
The ministers of Economy and Finance of the European Union (Ecofin) have updated again the black list of tax havens in which they included again Panama, which had already been excluded from the series in January 2018, accompanied by the Cayman Islands , Palau and Seychelles in addition to the countries that were already part of the review, which was approved this Tuesday by the block.
Panama was released on this list in December 2017, after several scandals were released, including the “Panama Papers”. However, the Central American country was only a month on the list, because European governments saw their commitments on fiscal transparency.
In the review, the EU assessed the commitments made by countries that are on the list. In terms of transparency, the international organization has given Turkey until December 31 of this year to make “tangible progress” in the “effective” application of the automatic exchange of tax information with the Member States.
Other regions such as Bosnia and Herzegovina, Botswana, Jordan, Maldives, Mongolia, Namibia or Thailand have until August 31 of this year to sign the OECD Agreement on Mutual Administrative Assistance in Tax Matters and until August 30, 2021 to ratify it.
For his part, the Commissioner of Economy, Paolo Gentiloni, asserts that the EU remains at the forefront of efforts to combat tax evasion and avoidance and ensures that the blacklist is a tool to cause “real improvements in global fiscal transparency.”
K.Villarroel
Source: lavanguardia
