The European Union has added Russia to its black list of countries it considers tax havens. The European finance ministers have further expanded the list with the British Virgin Islands, Costa Rica and the Marshall Islands.
In the case of Russia, it is about “the harmful aspects of a special regime for international companies”. The EU had asked Russia to address those aspects.
The government in Moscow had also promised to do so, but according to the EU ministers it has not fulfilled that agreement. Moreover, since Russia invaded Ukraine almost a year ago, “dialogue with Russia on tax matters has come to a standstill”.
Now blacklisted sixteen countries and territories that, according to the ministers, do not cooperate in the fight against tax evasion and avoidance. Many of these countries levy little or no corporate income tax.
In October, the EU also added Anguilla, the Bahamas and the Turks and Caicos Islands to the list of tax havens. EU member states cannot end up on the blacklist.
