
European Union flag
The European Union on Friday removed the islands of Aruba, Barbados and Bermuda from its tax haven blacklist, just two months after they were placed on the list for failing to cooperate with the bloc’s efforts to crack down on tax avoidance.
The decision leaves 12 jurisdictions on the list: American Samoa, Belize, Dominica, Fiji, Guam, the Marshall Islands, Oman, Samoa, Trinidad and Tobago, the United Arab Emirates, the U.S. Virgin Islands and Vanuatu.
“Barbados has made commitments at a high political level to remedy EU concerns,” the bloc’s foreign ministers said in a statement, while Aruba and Bermuda had both implemented commitments made.
According to the statement, Barbados and Bermuda have been moved to a so-called grey list of several dozen countries whose commitments are being monitored closely, while Aruba is fully in the clear.
The Oxfam anti-poverty advocacy group criticised the move.
“EU governments have, once again, let some of the world’s worst tax havens off the hook.
“The reforms agreed by Bermuda, Barbados and Aruba will not stop them operating as tax havens,” Oxfam’s Chiara Putaturo said.
The EU’s blacklist system was set up in 2017 as part of a broader crackdown.
The crackdown was on tax avoidance following revelations such as the Panama Papers and Paradise Papers on the use of legal loopholes for firms and individuals to avoid paying taxes.
Join The Conversation
You May Like
Latest
FG to shut Third Mainland Bridge for another 72 hours
Buhari goes tough, slams 6-month jail term on violators of COVID-19 protocols
Buhari to service chiefs: We are in state of emergency, serve Nigeria well
Thomas Tuchel releases first Chelsea team
Anambra Assembly shut as COVID-19 cases explode
Important announcement for Nigeria’s new ambassadors
Breaking: Buhari meets new service chiefs
Trump may be evicted from Mar-a-Lago residence
Impeachment: Can Trump survive it?
Sanwo-Olu honours Fashola, names Housing Estate after him
Osun COVID-19 deaths wake-up call: Health commissioner Isamotu
COVID-19 spreads in Benue Govt. House, 9 aides of Ortom also hit
Photo News: Buhari, Makinde in ‘closed door’ meeting in Abuja over herdsmen
Arsenal complete signing of Real Madrid midfielder Odegaard
Igangan, Igboho and the burden of history
Strike: NUT asks teachers to shun Obaseki’s resumption order
BB Naija Cee-c teases being hit by COVID-19
The many sides of J.J. Rawlings: A Tribute
Auxell Musical equipment’s boss seeks government’s support
Lagos to begin development of Government Workers’ Village – Sanwo-Olu
DSS speaks on killing of Osun policeman by 3 operatives