The European Union’s top tax official is urging member states to make public any commitments given by non-EU countries wanting to get off the bloc’s blacklist of suspected tax havens.
In December, 17 countries were put on an EU blacklist accused of offering unfair tax avoidance schemes. Barbados, Grenada, Macau, Mongolia, Panama, South Korea, Tunisia and the United Arab Emirates are now set to come off after agreeing to tighten their tax laws. However, the specific agreements have not been disclosed.
The Times reported on Wednesday that although there was no indication as to what the jurisdictions improved or changed in order to comply with the EU regulations, it is implied that a significant advance was made.
EU Taxation Commissioner Pierre Moscovici is calling for the publication of those commitments to be made public next week, before or when the bloc’s economy ministers are set to discuss taxation issues.
“This is the way to be credible” and ensure the blacklist process is working, he said, according to the Associated Press. MDT/AP
No Comments