Seychelles Was Removed From EU Blacklist of Tax Havens
Mon, 11 October 2021
The European Union has officially decided to remove Seychelles from its blacklist of tax havens after the country have committed to implementing the principles of good governance in the field of taxation, Euronews reported.
The decision was approved at a two-day meeting of EU finance ministers in Luxembourg, following a ruling by the Organisation for Economic Co-operation and Development (OECD). The Forum decided that Seychelles is entitled to further review and assess their compliance with international standards on tax transparency and information exchange.
The EU is updating its list of tax havens amid reports from Pandora Papers - the investigative project by the International Consortium of Investigative Journalists, the Organized Crime and Corruption Reporting Project and international media outlets. The investigated countries are assessed on the criteria of tax transparency, fair taxation and prevention of tax base shrinkage and transfer of profits.
Alongside Seychelles, the jurisdictions of Anguilla and Dominica have been also removed from the list.