Cayman might return to the EU’s blacklist

Members of the European Parliament have voted heavily in favour of extending the EU’s blacklist of offshore jurisdictions. Cayman, in particular, fears it might be placed back on the list.
587 MEPs want to make the process of listing and delisting candidates for the blacklist more transparent. They also want more criteria to be considered when determining who to blacklist. There were just 50 votes against and 46 abstentions.
After the vote, Paul Tang, a Dutch MEP and Chair of the Subcommittee on Tax Matters, said: ‘By calling the EU list of tax havens confusing and inefficient, the Parliament tells it like it is. While the list can be a good tool, member states forgot something when composing it: actual tax havens.

To read more on this story see the January issue of The NED.