BRUSSELS, The European Union economy and finance ministers on Friday agreed to remove the Central American country of Belize from the bloc’s blacklist of tax havens.
“Belize has passed the necessary reforms to improve its tax regime for international business companies that was due to be implemented by end 2018,” the ministers said in a statement following their meeting here. The EU established the list in December 2017 as part of its efforts to prevent tax avoidance and promote good governance principles such as tax transparency, fair taxation or international standards against tax base erosion.
Eight jurisdictions remain on the EU tax havens list; these are American Samoa, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the US Virgin Islands and Vanuatu.
Source: Kuwait News Agency