The European Union removed several territories from its list of tax havens

The European Union (EU) took the decision to remove the Bahamas, Belize, Seychelles and the Turks and Caicos Islands from its list of tax havens. However, Panama remains on that list. This measure has been the subject of controversy and has given rise to conflicting views.

The list, which was approved by the 27 EU member states, now includes 12 jurisdictions considered to be non-cooperative in tax matters, particularly with regard to the exchange of information.

The eliminated jurisdictions have been criticized. Oxfam, a group dedicated to fighting poverty, called the update “a waste of time.”

According to Oxfam tax expert Chiara Putaturo, “The Bahamas is one of the worst tax havens in the world, but it has been removed from the list. The same is true of the Seychelles, a hotbed of shell companies where multinationals make huge profits.”

On the other hand, the European Council regrets that these jurisdictions still do not cooperate on tax matters and urges them to improve their legal framework to address the problems identified.

It is important to note that the list of tax havens was created in 2017 after a series of scandals, including the famous “Panama Papers” case, which pressured Brussels to take drastic action against tax evasion.

K. Tovar

Source: Bancaynegocios

(Source image reference: @_NOALCOMUNISMO, X)

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