Tax havens "blacklisted" by the European Union

December 5, 2017, in the meeting Brussels, the 28 Finance Ministers of the European Union drew up a “black list” of 17 tax havens operating offshore.

1/This blacklist includes:
Bahrain, Barbados, South Korea, United Arab Emirates (Abu Dhabi, Dubai, Ajman, Sharjah, Fujairah, Ras al-Khaimah and Umm al Qa’ayain), Grenada, Guam, Marshall Islands, Macau, Mongolia, Namibia, Palau, Panama, Samoa, American Samoa, Saint Lucia, Trinidad and Tobago and Tunisia.

2/Compliance

The criterias used to establish this list with the European Commission, the 28 Member check for 92 jurisdictions (states or territories) that could pose a problem :
• Fiscal transparency: is the automatic exchange of information a reality?
• Tax : are tax measures preferential?
• Are the OECD demands against tax optimization applied?

3/OXFAM

According to the OXFAM (group of independent non-governmental organizations), the blacklist of tax havens that the European Union (EU) should publish would have at least 35 countries, if the EU applied its own criteria to the Member States, minimun four European countries would be on this list. The EU is analyzing 92 jurisdictions according to the three main criteria, including tax transparency and policies favoring massive benefit transfers, but these criteria exclude EU Member States, which means that tax havens major ones are omitted.

4/Gray List

Currently, 47 jurisdictions are listed on a gray list including Morocco and Cape Verde.
States that have decided to comply with EU requirements must comply with them until the end of 2018 for developed countries and until the end of 2019 for developing countries.

Following the cyclone of September 2017, Anguilla, Antigua and Barbuda, the Bahamas, Dominica, the British Virgin Islands, the US Virgin Islands and the Turks and Caicos Islands are given additional time until spring 2018 to provide information.

Dominique Guichard  Phone:+248.2510024  http://www.societe-internationale.com