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First tax havens blacklist published by EU

First tax havens blacklist published by EU

Business
The European Union has published its first blacklist of tax havens, naming 17 territories including Saint Lucia, Barbados and South Korea.A "watchlist" of 47 countries promising to change their tax rules to meet EU standards has also been issued.The "grey list" includes several with UK links, including Hong Kong, Jersey, Bermuda and the Cayman Islands, as well as Switzerland and Turkey. Both lists have been criticised as omitting the most notorious tax havens.The lists follow the leaking of the Panama Papers and the Paradise Papers, revealing how companies and individuals hid their wealth from tax authorities around the world in offshore accounts.EU tax commissioner Pierre Moscovici said the blacklist represented "substantial progress", adding: "Its very existence is an important step forw...