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Cayman Islands, Palau, Panama and Seychelles added to EU tax haven blacklist

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Christian Fernsby ▼ | February 19, 2020
The British overseas territory is joined by Palau, Panama and the Seychelles on the EU list.
Cayman Islands
Finance   Cayman Islands
The European Union has added four countries and jurisdictions to its blacklist of tax havens including British overseas territory the Cayman Islands.

Topics: Cayman Islands Palau Panama Seychelles tax haven blacklist

EU finance ministers also decided to add Palau, Panama and the Seychelles to the list of jurisdictions that have not implemented the necessary tax reforms to be in line with EU standards.

The EU set up the system to sanction those it deems guilty of unfairly offering tax avoidance schemes. Eight jurisdictions were already listed: American Samoa, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.