June 18, 2019, 22:45

European Union Reportedly Blacklists 17 Tax Havens

European Union Reportedly Blacklists 17 Tax Havens

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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Source: sputniknews.com

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