The European Union removed the British overseas territory of Bermuda, the Dutch ...
BRUSSELS - The European Union removed the British overseas territory of Bermuda, the Dutch Caribbean island of Aruba and Barbados on Friday from the bloc’s blacklist of tax havens, leaving no EU territory still on the list.
The three islands were added to the list in March as they had failed for months to change their tax rules, which the EU deemed at risk of facilitating tax evasion in other countries. Bermuda’s Finance Minister Curtis Dickinson welcomed the EU decision. He said there was still work to be done to improve the island’s tax legislation on collective investment funds, about which the EU had still concerns.
The EU does not automatically add to its list tax-free countries unless they have additional provisions that could facilitate tax evasion, such as rules on offshore structures aimed at attracting foreign profits.
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