Cracking down on tax evasion - EU blacklisted Macau as tax havens
The EU has announced a blacklist of tax havens, and 17 places, including Macau, are included in the list. The list is made by the finance ministers of the EU member states. Bruno Le Maire, the French finance minister, said that the capital exchanges between blacklisted places and the EU's may be cut off, and other measures will be introduced within coming few weeks.
The remaining blacklisted tax havens are Guam, South Korea and the United Arab Emirates, etc. The EU hopes to crack down on some places where offshore companies can be used for tax evasion by publishing blacklists.
Le Maire said that in addition to the blacklist, 47 places are included in the "grey list" of tax havens. As the name meant, the places in the grey list have gray areas in dealing with tax issues, which does not meet the standards set by the EU, but these places have promised to make changes in the tax regulations.
17 countries listed as "tax havens", including South Korea, Macau, Mongolia, Bahrain and the United Arab Emirates. Hong Kong, Switzerland, Turkey, etc., 47 countries or regions, are listed in the "grey list", that is, "watch list".
17 places blacklisted by the EU as tax havens are as follows:
American Samoa, Bahrain, Barbados, Grenada, Guam, Korea, Macau, Marshall Archipelago,
Mongolia, Palau, Namibia, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia,
the United Arab Emirates