Why is American Samoa richer than Samoa

EU denounces overseas territory as a tax haven : British Cayman Islands on the EU black list

The EU finance ministers have Panama, the Seychelles, Palau and the British Cayman Islands on the Black list of tax havens set. The EU Commission and the Council of EU countries announced this on Tuesday. The states and territories had failed to comply with the required standards in the fight against tax evasion.

So far, eight countries or areas outside the EU have already been on the list, namely American Samoa, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the American Virgin Islands and Vanuatu. Ultimately, the list is a kind of pillory to persuade the tax havens to give in.

That brings real improvements, said EU Economic Commissioner Paolo Gentiloni. So far, the EU has examined tax systems in 95 countries. Most adhered to standards of good governance. In this way, more than 120 harmful tax regimes have been eliminated worldwide, underlined Gentiloni.

The Austrian Finance Minister Gernot Blümel called for Turkey to be targeted as well. All countries have to adhere to international obligations, which Turkey does not do. If it goes on like this, Austria will work to ensure that Turkey is blacklisted. This will be observed until the end of the year, said Blümel.

The CSU European politician Markus Ferber interpreted the fact that the British overseas territory Cayman Islands was put on the list as a warning to Great Britain. "The dream of some Brexit supporters to turn the United Kingdom into a tax haven off the European coast will not work," emphasized Ferber. "If the British government wants to make the UK a tax haven, the British will end up on the black list too."dpa)

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