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EU updates tax haven blacklist, BVI not named

A section of the main island of Tortola. (BVI News Photo)

The European Union (EU) this week updated its tax haven blacklist and the BVI has not been named among the worst offenders.

This means that the BVI has managed to avoid that list for one year as it was upgraded to whitelist status in February 2020.

Whitelist status signals the country as a fully cooperative tax jurisdiction that is observing all of the tax good-governance standards.

This is good news for territory especially since Members of the European Parliament earlier this year voted to add the BVI, Guernsey, and Jersey to its tax havens blacklist; arguing that these territories are not compliant with international tax standards.

Analysts believe the pressure is a direct result of Brexit.

The 12 jurisdictions on the EU’s Annex I blacklist are American Samoa, Anguilla, Dominica, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the US Virgin Islands and Vanuatu.

The EU removed Barbados from its blacklist of countries after the Caribbean country expressed anger over the decision four months ago.

The EU council said Dominica was placed on the blacklist because it lacked a rating of at least “largely compliant” from the Global Forum on Transparency and Exchange of Information for Tax Purposes.

In the meantime, eight other countries are on this grey list — Australia, Barbados, Botswana, Eswatini, Jamaica, Jordan, Maldives, and Thailand.

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8 Comments

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  1. Wnodering says:

    Wonder if the UK, EU, US and other non Black countries are on the list, knowing full well they should be.

    The world’s hypocriy is astonishing.

    Like 10
    Dislike 10
    • Secret Bear says:

      @Wnodering

      Racism is not dead, but it is on life support — kept alive by politicians, race hustlers and people who get a sense of superiority by denouncing others as “racists.”

      –Thomas Sowell

      Like 9
      Dislike 3
    • @Wnodering says:

      The skin colour of the country’s inhabitants is not a factor! The EU list of non-cooperative jurisdictions for tax purposes is a tool to tackle:
      1. tax fraud or evasion: illegal non-payment or under payment of tax
      2. tax avoidance: use of legal means to minimise tax liability
      3. money laundering: concealment of origins of illegally obtained money.
      It lists non-EU countries that encourage abusive tax practices, which erode member states’ corporate tax revenues. This includes “white” countries!

      Like 3
      Dislike 2
      • @@Wnodering says:

        Everyone who reads knows those standards you posted are not even looked at in white countries They are the ones making the rules and they do not make rules that negatively affect them.

        Not all are fools, and many are reading/research prone.

  2. RastafarI says:

    “Until the colour of a person’s skin is of no more significance than the colour of their eyes”

    There will always be racism. Learn to deal with it instead of crying about it.

    • It says:

      It is not a question of skin color. It’s the fact that the Black mans brain is wired differently. The Black man has a different set of values when it comes to all things socially…

      Like 2
      Dislike 1
      • Popeye says:

        Don’t forget that we all share a common ancestor who lived 75,000 in Africa. So we are all related!

        • @Popeye says:

          Should you become a sailor you will find out that science is good, but the very scientist that unearth facts, often skew them to suit his race and agendas.

          Of course somw will feel offended after reading the following and call it racist. It is not. It is fact and an opinion.

          The Euro man could never share anything of Black dna matter, never. Indeed, the literature have been read and is still being studied, but given the history of the EU man, don’t think that dude has no links to Black people as a common ancestor.

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