EU blacklist names 17 tax havens and puts Caymans and Jersey on notice

Brussels identifies 17 countries including South Korea, Barbados, Panama and UAE with 47 others such as the Isle of Man and Bermuda warnedThe EU has named and shamed 17 countries in its first ever tax haven blacklist and put a further 47 on notice, including British overseas territories and the crown dependencies of Jersey, Guernsey and the Isle of Man, in an attempt to clamp down on the estimated £506bn lost to aggressive avoidance every year.The move was hailed as a vital “first step” but the failure of the member states to agree on any sanctions for those on the blacklist provoked the European commissioner for economic and financial affairs, Pierre Moscovici, to concede it was as yet “an insufficient response”. Continue reading…

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