The blacklisted jurisdictions were chosen on the basis of poor cooperation with the European authorities on tax issues.
According to Reuters, the European Union finalized a blacklist of some 17 international tax havens in a major effort to crackdown on tax-evasion and money-laundering.
Earlier today, European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici indicated that the EU would adopt a blacklist of some 20 tax heavens.
“There will be, I hope, a blacklist that will include about 20 countries that despite ten months of talks have not made the necessary commitments, and then also a list I would call grey with about 40 countries, who have made commitments that will need to be respected,” Moscovici said during the meeting of EU finance ministers.
The EU anti-evasion measures follow numerous revelations of tax-evasion and money-laundering schemes carried out by wealthy individuals and large companies across the world.
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