The 12 countries and territories that the EU includes on its blacklist of tax havens

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The European Union has updated this Monday its blacklist of tax havens, with few changes in the 12 countries and territories that compose it, but with an important novelty in view of upcoming changes, given that it has issued an ultimatum to Turkey to fulfill its commitments to activate the system of automatic exchange of tax information with the 27 before July or it will be included in this list, created in 2017.

In fact, last December 31 was the deadline for Ankara to comply with its agreements with Brussels to establish communication channels to prevent tax fraud and evasion. However, so far Turkey has only implemented these systems with 21 of the 27 EU members, which has provoked the EU warning, which has urged the Turkish government to negotiate their implementation as soon as possible with the remaining 6 partners.

Turkey is currently on the EU’s grey list, which includes countries that have committed to adopting the necessary reforms to improve their fiscal transparency vis-à-vis EU partners, but whose progress has not yet been verified by Brussels. Currently, 8 other countries are on this grey list, which includes Australia, Barbados, Botswana, Eswatini, Jamaica, Jordan, Maldives, and Thailand.

Andorra could return to the list of tax havens

Andorra was until 2 years ago on that gray list, given that the EU considered until that date that the Pyrenean principality had a “pernicious tax regime” for rebates of up to 2% corporate income tax. In December 2018, EU finance ministers endorsed excluding it from that list, after recognizing its progress in improving tax transparency and collaboration and abolishing the tax rebates pointed out by Brussels.

However, Andorra could return to the list of EU tax havens, as well as 4 EU partners such as Cyprus, Luxembourg, the Czech Republic, or Ireland, according to the Trade Union of Technicians of the Ministry of Finance Gestha, which has recently assured that Spain could propose its inclusion in the list given that these are countries with low or no taxation, as reported by 20 Minutos.

Why a youtuber is not as safe from the Treasury in Andorra as it seems: 9 keys that show the technological weapons that exist to detect irregularities

The president of Gestha, Carlos Cruzado, has called for updating the tax system and has criticized the “lack of solidarity of those who enjoy great income, benefits or wealth and use them to the detriment of society”, in reference to the YouTubers who have recently announced their move to Andorra. Cruzado has rejected the YouTubers’ criticism of the tax burden in Spain, pointing out that in more developed countries “it is significantly higher”.

Pending possible changes in the coming months to the EU’s tax transparency black and grey lists, 12 countries and territories are now considered by Brussels to be tax havens or “jurisdictions without tax cooperation”, after Brussels announced on Monday the removal of Barbados from the blacklist and the entry of Dominica.

Anguilla

  • Type of jurisdiction: British overseas territory.
  • Blacklisted as of October 6, 2020

Dominica

  • Type of jurisdiction: sovereign country and member of the Commonwealth.
  • Blacklisted since: February 21, 2021

Fiji

  • Jurisdiction type: sovereign Commonwealth member country
  • Blacklisted since: 12 March 2019

Guam

  • Type of jurisdiction: unincorporated territory of the U.S.
  • Blacklisted since: Dec. 5, 2017

U.S. Virgin Islands

  • Type of jurisdiction: unincorporated territory of the U.S.
  • Blacklisted since: March 13, 2018

Palau

  • Type of jurisdiction: republic freely associated with the USU.
  • Blacklisted since: Dec. 5, 2017

Panama

  • Type of jurisdiction: sovereign country
  • Blacklisted since: December 5, 2017

Samoa

  • Type of jurisdiction: a sovereign country member of the Commonwealth.
  • Blacklisted since: December 5, 2017.

American Samoa

  • Type of jurisdiction: unincorporated territory of the U.S.
  • Blacklisted since: Dec. 5, 2017

Seychelles

  • Type of jurisdiction: a sovereign country member of the Commonwealth.
  • Blacklisted since: February 18, 2020

Trinidad and Tobago

  • Type of jurisdiction: sovereign Commonwealth member country
  • Blacklisted since: December 5, 2017

Vanuatu

  • Type of jurisdiction: sovereign Commonwealth member country.
  • Blacklisted since: 12 March 2019

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