TOWARDS AN EU 28 BLACKLIST ON TAX HEAVENS

Back in June 2015, the European Commission published a list of 30 countries it viewed as 'non-cooperative jurisdictions. Each country on the blacklist was suggested by at least ten EU member states (Bulgaria, Croatia, Estonia, Greece, Italy, Latvia, Lithuania, Poland, Portugal, and Spain). The UK did not make any suggestions, nor did Germany. 

Now as a result of the 'Panama Papers', the European Commission is asking Member States to agree on a common list of tax havens in the next semester and impose sanctions on countries that hide EU-taxable revenues. Currently EU Member States have broadly different national lists of so-called non-cooperative jurisdictions on tax matters and are free to decide whether to impose restrictive measures.

The EU Blacklist (June 2015)

Caribbean

1. Anguilla
2. Antigua & Barbuda
3. Bahamas
4. Barbados
5. Belize
6. Bristish Virgin Islands
7. Cayman Islands
8. Grenada
9. Montserrat
10. St Kitts & Nevis
11. St Vincent & The Grenadines
12. Turks & Caicos Islands
13. U.S. Virgin Islands

Europe

1. Andorra
2. Guernsey
3. Liechtenstein
4. Monaco

Pacific

1. Cook Islands
2. Marshall Islands
3. Nauru
4. Niue
5. Vanatu

Asia

1. Brunei
2. Hong Kong
3. Maldives

Africa

1. Liberia
2. Mauritius
3. Seychelles

Americas

1. Bermuda
2. Panama