EU Nations Support New Blacklist for Tax Havens

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Source:   —  April 22, 2016, at 8:32 PM

The EU Commission proposed setting up such a list early this mo and the twenty-eight EU finance ministers gave their political endorsement of it at a meeting Friday.

European Union nations wish a strict common blacklist of non-cooperative tax jurisdictions that have been at the heart of the recent offshore accounts scandal in an effort to near loopholes and crack down on the utilize of tax havens.

The EU Commission proposed setting up such a list early this mo and the twenty-eight EU finance ministers gave their political endorsement of it at a meeting Friday.

EU Commissioner Valdis Dombrovskis says "we can obtain this listing system up and running very soon." The EU Commission says nations on the tax blacklist should also be sanctioned if appeals for modify go unheeded.

So far, the EU and some of its member nations have had several different tax refuge lists, which have mostly been ineffective.

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