December 5, 2017 / 8:13 AM / 10 months ago

EU's Moscovici says expects adoption of blacklist of 20 tax havens

BRUSSELS, Dec 5 (Reuters) - European Union tax commissioner Pierre Moscovici said he expected EU finance ministers to adopt a blacklist of about 20 tax havens when they meet on Tuesday.

“There will be, I hope, a blacklist that will include about 20 countries that despite ten months of talks have not made the necessary commitments, and then also a list I would call grey with about 40 countries, who have made commitments that will need to be respected,” Moscovici said on arrival at the meeting of EU finance and economy ministers.

Following multiple disclosures of offshore tax avoidance schemes by companies and wealthy individuals, EU states launched a process in February to list tax havens in a bid to discourage setting up shell structures abroad which are themselves in many cases legal but could hide illicit activities. (Reporting by Julia Fioretti and Francesco Guarascio; Editing by Alissa de Carbonnel)

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