MercoPress, en Español

Montevideo, September 22nd 2018 - 03:54 UTC

Fourteen Caribbean BOTs blacklisted by EU as world's worst tax havens

Friday, June 19th 2015 - 23:51 UTC
Full article 15 comments
European Commissioner Moscovici said publishing the list of “non-cooperative jurisdictions” was a decisive step for territories to adopt international standards. European Commissioner Moscovici said publishing the list of “non-cooperative jurisdictions” was a decisive step for territories to adopt international standards.

Fourteen Caribbean countries are among 30 territories blacklisted by the European Union (EU) as the world’s worst tax havens. The list published by the EU on Wednesday includes Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, Grenada, St. Vincent and the Grenadines, St. Kitts and Nevis, and the British Overseas Territories of Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Montserrat, and the Turks and Caicos Islands.

 Each of those countries, and the other 16 on the blacklist, had been suggested by at least 10 EU member states as problematic because they were not doing enough to crack down on tax avoidance.

Jurisdictions commonly labeled as offshore tax avoidance hubs, including Luxembourg, Jersey and Switzerland, were not on the list.

European Commissioner for economics, taxation and customs Pierre Moscovici said that publishing the list of “non-cooperative jurisdictions” was a decisive step in pushing the territories to adopt international standards.

“Our citizens can no longer tolerate that certain companies, often the most prosperous, avoid fair tax contributions and that certain tax regimes encourage them on this path,” he said.

The European Commission, the EU’s tax watchdog, issued the list at the same time it unveiled a plan for tackling corporate tax avoidance.

The aim of that plan is to tax companies where they earn their profits, rather than allowing firms to shift money into low-tax jurisdictions.

Moscovici said corporate tax needed a “radical reform” and all member states needed to “pull together” to ensure companies paid their way.

The others on the blacklist are: Andorra, Liechtenstein, Guernsey, Monaco, Mauritius, Liberia, Seychelles, Brunei, Hong Kong, Maldives, Cook Islands, Nauru, Niue, Marshall Islands, Panama and Vanuatu.

Categories: Economy, Politics, International.

Top Comments

Disclaimer & comment rules
  • Juanfoster

    countries?
    they are BOTS= english colonies.

    funny they forgot london and the other shithole called gibraltar.

    Jun 20th, 2015 - 12:26 am 0
  • Skip

    Juan, I understand that you have an Argentinean education so many things are difficult for you to understand.

    So look up the definition of COUNTRY and the definition of STATE. A country can be a state and a state can be a country but they do not have to be both.
    Every BOT is a country.

    But you are right. London and Gibraltar were not on the list. Thank you for confirming that you understood that much.

    It is nice to highlight that the UK, Gibraltar and the Falkland Islands are not on this list.

    The title of the article is a little misleading as there are NOT 14 BOTs on the list. Only 6. There are however 7 members of CELAC on the list..... or more than 20% of CELAC's membership..... did someone mention shithole?

    The list:
    Andorra
    Anguilla (BOT)
    Antigua and Barbuda (CELAC)
    Bahamas (CELAC)
    Barbados (CELAC)
    Belize
    Bermuda (BOT)
    British Virgin Islands (BOT)
    Brunei
    Cayman Islands (BOT)
    Cook Islands
    Grenada (CELAC)
    Guernsey
    Hong Kong
    Liberia
    Liechtenstein
    Maldives
    Marshall Islands
    Mauritius
    Monaco
    Montserrat (BOT)
    Nauru
    Niue
    Panama (CELAC)
    Seychelles
    St. Vincent and the Grenadines (CELAC)
    St. Kitts and Nevis (CELAC)
    Turks and Caicos Islands (BOT)
    US Virgin Islands
    Vanuatu

    Jun 20th, 2015 - 05:38 am 0
  • HansNiesund

    @1

    The reason the City and Gibraltar aren't on the list is most likely because 10 countries couldn't be found with complaints about them. It would seem that Spain's smear campaign against Gibraltar in this respect has failed, though it's not for want of trying. .

    As for the BOTs, if the BOTs were actually colonies, it would be easy enough to bring them into line. But then of course the UK would be accused of high-handed colonialism. But I see how very comforting it must be for people like yourself to have something to complain about whatever the UK does.

    Jun 20th, 2015 - 06:22 am 0
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!