• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Taxation

EU pushes for tougher tax haven blacklist

EU pushes for tougher tax haven blacklist
  • Pedro Gonçalves
  • @PeterHSG
  • 09 December 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Some EU countries are calling for tougher sanctions on jurisdictions that facilitate tax avoidance in a move that is likely to spark a dispute with EU memgbers like Luxembourg and Ireland.

According to a document prepared by the Danish government and seen by Reuters, a group of European Union countries are urging for a discussion on whether "current criteria provide sufficient protection against tax avoidance and evasion", and pushing for "strengthened" standards and sanctions. 

Related articles

  • EU to roll out sanctions against blacklisted jurisdictions
  • Cooperation or coercion? A new era for the Caribbean
  • EU mulls blacklisting its own Member States
  • EU removes Panama and seven other jurisdictions from its 'tax haven blacklist'

It also calls for a discussion on how member states deal with the issue, asking: "Do we internally have sufficient safeguards against tax avoidance and evasion?"

This potentially sets up a dispute with EU members Luxembourg, the Netherlands and Ireland, which widely use low tax and other sweeteners to host EU headquarters of foreign firms. At a meeting of EU finance ministers, several states backed the Danish proposal, one EU official said, naming Germany, France, Spain and Austria among the supporters.

Some of Luxembourg's tax dealings with multinationals have been made public through the disclosure of the LuxLeaks documents. A number of these dealings have been investigated by the European Commission, in some instances leading to the firms being asked to pay back taxes, for instance in the recent case of Fiat Finance and Trade.

Croatia, which holds the EU chair from January, said the review of the current criteria would be discussed during its six-month presidency, the official said. The review was likely to take place in February or March, the official added.

EU lawmakers have faced criticism that during former Luxembourg prime minister Jean-Claude Juncker time as commission president, the EU set up a tax haven blacklist that exempted its 28 member states from screening. The new European Commission, led by Ursula von der Leyen, took office on the first of December.

Foreign jurisdictions are blacklisted if they do not meet EU standards on tax transparency and regulation. 

 

Subscribe to International Investment's free, twice-daily, newsletter

 

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Taxation
  • EU
  • Luxembourg
  • Ireland
  • European Union
  • Netherlands
  • Germany
  • France
  • Spain
  • Austria
  • European Commission
  • Tax haven
  • Blacklist

More on Taxation

Comment: The pandemic has dramatically complicated issues of tax residency

  • Comment
  • 15 February 2021
Report proposes 5% UK wealth tax to offset pandemic costs

  • Taxation
  • 09 December 2020
Britons in France warned of steep capital gains tax rises when selling property

  • Taxation
  • 07 December 2020
HMRC payments to tax evasion whistleblowers up 63%

  • Taxation
  • 04 December 2020
OECD to issue international crypto tax evasion standards next year

  • Cryptocurrencies
  • 04 December 2020
Back to Top

Most read

HSBC Singapore CEO to leave for Saudi British Bank
HSBC Singapore CEO to leave for Saudi British Bank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
J.P. Morgan Asset Management launches Global Income Sustainable Fund
J.P. Morgan Asset Management launches Global Income Sustainable Fund
Comment: Four key issues powering the renewable energy revolution
Comment: Four key issues powering the renewable energy revolution
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading