EU lists Cayman Islands, Panama as tax havens

EU lists Cayman Islands, Panama as tax havens

EU finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the EU’s blacklist of tax havens, while sparing Turkey. The list set up in 2017 based on revelations of widespread tax evasion and avoidance schemes now includes 12 jurisdictions. Those on the list face reputational damages, higher scrutiny in financial transactions and the risk of losing EU funds.

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