EU removes Bahrain from tax haven list

BRUSSELS, March 13 (KUNA) - EU finance ministers meeting here Tuesday decided to remove Bahrain, the Marshall Islands and Saint Lucia from its tax havens list.
Since the list was first published on December 5, 2017, Bahrain, the Marshall Islands and Saint Lucia have made commitments at a high political level to remedy EU concerns.
In light of an expert assessment of those commitments, it was decided to move the three jurisdictions, said the ministers in a statement.
They, however, added Bahamas, Saint Kitts and Nevis and the US Virgin Islands to the list.
The EU's list is intended to promote good governance in taxation worldwide, maximising efforts to prevent tax avoidance, tax fraud and tax evasion.
"I am glad to see more jurisdictions that we listed in December committing themselves to reforming their tax policies in a manner that will remedy our concerns", said Vladislav Goranov, minister for finance of Bulgaria, which currently holds EU presidency, in a statement .
"We call on all jurisdictions on the list to do likewise, and on all those that have already made commitments to implement them in a timely manner. Our aim is to achieve optimal tax transparency worldwide", he added.
Nine from the original 17 jurisdictions remain on the EU list: American Samoa, Bahamas, Guam, Namibia, Palau, Samoa, Saint Kitts and Nevis, Trinidad and Tobago and the US Virgin Islands. (end) nk.rk