LatinNews Daily - 06 October 2021

* The European Council has announced that it has removed Anguilla and Dominica (along with Seychelles) from its list of non-cooperative tax jurisdictions. Countries in the region to remain on the list include Panama and Trinidad & Tobago. Anguilla, Dominica, and Seychelles are now listed as places that do not yet comply with all international tax standards but have committed to the principles of good tax governance. Costa Rica and Uruguay were also added to this ‘grey’ list. Twice a year the European Council revises its list of non-cooperative jurisdictions, a practice established in 2017 to promote global good governance in taxation and inform member states on which non-EU jurisdictions engage in abusive tax practices. The decision to remove the three countries however was widely slammed in the wake of the Pandora Papers, a massive international leak of transactions in tax havens. A statement by the international NGO Oxfam complained that the “decision to delist Anguilla, the only remaining jurisdiction with a zero per cent tax rate…renders the EU’s blacklist a joke. While the Pandora Papers investigation blew the lid on how the super-rich continue to use tax havens to avoid paying their taxes, ordinary people are asked to foot the [coronavirus] Covid-19 recovery bill”.

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