Tax subcommittee Chair reacts to latest decision on EU tax haven list

Reacting to today's removal of Antigua and Barbuda from the EU list of non-cooperative jurisdictions for tax purposes, the tax matters subcommittee Chair made the following statement.

Mr Tridico (GUE, IT) said:

The decision to remove Antigua and Barbuda from the EU’s list of non-cooperative jurisdictions for tax purposes is contingent upon the country’s commitment to reform its tax regulations. However, such updates to the list should only occur after the actual implementation of these tax reforms.

In the past, the Ecofin (finance ministers meeting in Council) has removed some of the most harmful jurisdictions, such as the Cayman Islands and Bermuda, in exchange for minimal substance criteria and weak enforcement measures. Therefore, these criteria must be enhanced and there should be a stronger role for the European Parliament in the process to ensure greater transparency in the listing procedure. Finally we should also fight against tax havens within the EU.