Tax havens EU radar: EU will soon be meeting and announcing a list of tax havens which shall be blacklisted. The public view on the matter is that such measures could devastate small economies that facilitate secrecy and tax breaks whose GDP depends on. The possibility is open for the imposition of sanctions for conducting business in such jurisdictions.
This is the end to Tax Havens. Cyprus company incorporation is the best next choice for you to pay low taxes and be legal and safe. It offers you a very low corporate tax of 12.5%, zero tax on dividends and a multitude of other tax benefits. Cyprus Company Incorporation is fast and can be done in your absence.
Speculations that Tax Havens EU Radar
According to reports, some jurisdictions that have suffered from physical damages may be spared some time to recover which implies that those may be the British Virgin Islands, Montserrat and the Turks & Caicos Islands. Moreover another register will include jurisdictions currently acting as tax havens which have stated their intention to EU to improve improve their transparency, information sharing and tax rules.
At the beginning of this year about 100 countries received a screening letter including but not limited to China, the US and Japan and some small European countries such as Monaco and Andorra. The assessment criteria were mainly tax transparency, fair taxation and commitment to implementing measures agreed by the OECD, Exemptions: For those countries which chose to sign up the common reporting standard by committing to share information relating to bank accounts held by persons they may be exempted from the list. Such countries must not facilitate offshore structures or give tax breaks to companies with no real presence in their jurisdiction.
Conclusion: Tax Havens EU Radar don`t go together!
According to latest reports, EU member states are excluded from the black list since if this not the case then it would include Ireland, Luxembourg, the Netherlands and Malta. Moreover, the following non EU states was concluded to be included on the list: Albania; Anguilla; Antigua and Barbuda; Aruba; Bahamas; Bahrain; Bermuda; Bosnia and Herzegovina; British Virgin Islands; Cook Islands; Cayman Islands; Curacao; Faroe Islands; Macedonia; Gibraltar; Greenland; Guam; Hong Kong; Jersey; Marshall Islands; Mauritius; Montenegro; Nauru; New Caledonia; Niue; Oman; Palau; Serbia; Singapore; Switzerland; Taiwan; Trinidad and Tobago; UAE; US Virgin Islands; Vanuatu.
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