EU adopts tax haven blacklist, British territories spared

EU adopts tax haven blacklist, British territories spared:

"European Union finance ministers adopted a blacklist of 17 jurisdictions deemed as tax havens on Tuesday, in an unprecedented step to counter worldwide tax avoidance, although they did not agree on financial levies for the listed countries.

To discourage the use of shell structures abroad - which in many cases are legal but may hide illicit activities - the EU in February began screening 92 jurisdictions seen as possible tax havens. The move came in the wake of numerous disclosures of offshore tax avoidance schemes used by companies and wealthy individuals.

EU finance ministers approved a common blacklist on Tuesday made up of American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates (UAE)."



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