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The European Union tax haven blacklist, officially the EU list of non-cooperative tax jurisdictions, is a tool of the European Union (EU) that lists tax havens. It is used by the Member States to tackle external risks of tax abuse and unfair tax competition .
(↕) Identified on the European Union's first 2017 list of 17 tax havens; the above list contains 8 of the 17. [61] (Δ) Identified on the first, and the largest, OECD 2000 list of 35 tax havens (the OECD list only contained Trinidad & Tobago by 2017); the above list contains 34 of the 35 (U.S. Virgin Islands missing). [29]
Other researchers into tax havens have written that professional service firms in the major OECD and EU tax havens write most of their state's relevant taxation and SPV-related legislation, so that they can create and protect loopholes, and refer to such jurisdictions as being a "captured" by their financial services industry.
The OECD gave in and announced it had no intention to pursue "defensive measures" against tax havens. [11]: 149–150, 160–162 After the September 11, 2001, attacks the United States wanted better cooperation from tax havens on terrorist financing, but was reluctant to tackle tax evasion forcefully. Since the two practices are very similar ...
On 22 October 2008, at an OECD meeting in Paris, 17 countries led by France and Germany decided to draw up a new blacklist of tax havens. It had been asked to investigate around 40 new tax havens where undeclared revenue was hidden and which hosted many of the non-regulated hedge funds that came under fire during the financial crisis of 2007–08.
A majority (64%) of the forgone revenue is pegged to multinational corporations that can still — despite efforts at international tax reform by the OECD over the past decade — engage in profit ...
Tax haven experts explain these contradictions as resulting from the different agendas of the major OECD taxing authorities, and particularly the U.S., [13] and Germany, who while not themselves considered tax havens or corporate tax havens, rank #2 and #7 respectively in the 2018 Financial Secrecy Index of tax secrecy jurisdictions: [135] [298 ...
The Paradise Papers have also cited Malta among a list of tax havens. However, officials insist that they have complied with EU laws. Though local companies pay a corporate tax rate of 35%, some ...