EU publishes its first tax haven blacklist
The European Union has published its first blacklist of tax havens, naming 17 jurisdictions including Panama, South Korea and the United Arab Emirates.
The list, which was agreed at a meeting of European finance ministers last week, is the result of a one-year exercise that involved screening 92 countries and asking their governments to plug any tax loopholes that were found.
“This list represents substantial progress,” said Pierre Moscovici, commissioner for economic and financial affairs, after the meeting. “It’s very existence is an important step forward. But because it is the first EU list, it remains an insufficient response to the scale of tax evasion worldwide.”