European Union 'tax haven' blacklist labelled a 'whitewash'

The European Union has blacklisted 17 global tax havens at a meeting of finance ministers in Brussels

Though being hailed as a vital "first step", the failure of the member states to come to an agreement on any sanctions for those blacklisted provoked the European commissioner for economic and financial affairs, Pierre Moscovici, to openly admit it was as yet "an insufficient response".

Higher-tax countries like France have pushed for the blacklist as well as a crackdown on tax havens in the European Union as well.

The EU agreed to not add countries to its blacklist of tax havens even if the country failed to live up to EU tax standards if the country made a sufficient commitment to change its ways.

The EU has named 17 countries - including South Korea, Mongolia, Namibia, Panama, Trinidad & Tobago, Bahrain and the United Arab Emirates - in its first ever tax haven blacklist and put a further 47 on notice, including British overseas territories and the crown dependencies of Jersey, Guernsey and the Isle of Man, in an attempt to crack down on the estimated £506bn lost to tax avoidance every year.

Panama's president, Juan Carlos Varela, objected to his country being on the list, saying it is making progress against tax evasion.

European authorities have urged nations to up their efforts in committing to greater tax transparency over the past year.

Wal-Mart drops Stores from name to shed brick and mortar image
CVX traded at an unexpectedly low level on 05/12/2017 when the stock experienced a -0.37% loss to a closing price of $120.39. Wal Mart Stores Inc now has $289.81 billion valuation. (NYSE: WMT ) earned "Buy" rating by Oppenheimer on Tuesday, August 1.

TVS races into super-premium league with the Apache RR 310
The company's two-wheelers are shipped to about 60 countries and in most of the markets the Apache RR 310 will be sold shortly. The 312.2cc, single-cylinder, DOHC motor which makes 34hp at 9,700rpm and 27.3Nm at 7,700rpm, is powering the TVS RR 310.

Pakistan rejects United States demand for joint operation on its soil
Mattis met prime minister Shahid Khaqan Abbasi and military chief General Qamar Javed Bajwa during his brief stopover in the capital Islamabad.

"Blacklisted jurisdictions must face consequences in the form of dissuasive sanctions, while those that have made commitments must follow up on them quickly and credibly".

The penalties could include special documentation requirements and withholding tax measures.

The clock is counting down: Now that tax reform bills have made their way through the House and Senate, Republicans in both chambers are working to iron out the differences between the two bills - with a goal of overhauling the usa tax system by December 22.

"If EU governments really wanted to get rid of tax havens, they should be open about the fact that several EU Member States, such as Luxembourg, Ireland and the Netherlands, also have to fundamentally change their behaviour".

Countries in the EU's firing line have been given an opportunity to stay off the list if they provide a political commitment and a detailed plan to comply. Panama has been battered by document leaks, including the Panama Papers and Paradise Papers, showing how the rich have stashed wealth in shell companies in Panama and other small nations. "I invite the member states to not be naive and keep pressure on the third countries to stay on course", he said as he arrived for the talks in Brussels.

Related News:

  • Astronaut captures aurora timelapse from space

    Astronaut captures aurora timelapse from space

    On 14 November, the team received the products and started cooking the pizza under the guidance of Paolo. Not the first time Italian astronaut prepares in the conditions of weightlessness.
    Here's what the repeal of net neutrality could mean for Meramec students

    Here's what the repeal of net neutrality could mean for Meramec students

    According to James, it's hard to see how consumers are benefitted in any way by the repeal of net neutrality . Instead, Congress continues to turn a blind eye as their appointee dismantles equal access to the internet.
    California wildfires temporarily shut down production of HBO show

    California wildfires temporarily shut down production of HBO show

    HBO's " Westworld " and CBS's "S.W.A.T." suspended filming on Tuesday as multiple wildfires burn in and around Los Angeles County. The S.W.A.T. writers' room tweeted that filming was stopped "due to wildfires and unsafe air near our stages".
  • FEC orders NNPC to end fuel scarcity before weekend

    FEC orders NNPC to end fuel scarcity before weekend

    We have said times without number that NNPC has sufficient products to cater for the needs of all consumers", the NNPC GMD stated. The money was said to have been borrowed from the banks to finance fuel import.
    Wildfire Breaks Out Near Getty Center

    Wildfire Breaks Out Near Getty Center

    More than 600 firefighters battled the blaze amid strong Santa Ana winds, some gusting at 70 miles per hour . Strong winds helped push the fire uphill, putting homes and residents in danger.
    A brush fire has erupted near Sylmar

    A brush fire has erupted near Sylmar

    Charred earth smolders along Little Tujunga Canyon road Wednesday morning after the Creek fire burned through the area Tuesday. More than 125 firefighters were on the scene and that water-dropping helicopters were being used, the newspaper said.
  • Korea urges Russians to compete as neutrals in 2018 Olympics

    Korea urges Russians to compete as neutrals in 2018 Olympics

    Haley said US officials will monitor activity in the region closely, and determine a way to ensure athletes are protected. However, Pyotr Tolstoy, deputy speaker of the State Duma, the Russian parliament's lower house, has called for a boycott.
    Mariners, Angels Make Trades to Free Up International Money for Shohei Ohtani

    Mariners, Angels Make Trades to Free Up International Money for Shohei Ohtani

    The Seattle Mariners made a similar deal with the Twins in order to acquire global slot money of their own on Wednesday night. Whichever team lands the free agent from Japan will acquire arguably the top prize on the free-agent market.
    Liverpool 7-0 Spartak Moscow

    Liverpool 7-0 Spartak Moscow

    Ragnar Klavan also comes in to the back four alongside Dejan Lovren while Alberto Moreno replaces Andrew Robertson at left-back. Klopp said: "It could be something serious but he was a little more positive in the treatment room so maybe we will be lucky".
  • Ryan Reynolds To Do Some Pokemon Sleuthing In 'Detective Pikachu'

    Ryan Reynolds To Do Some Pokemon Sleuthing In 'Detective Pikachu'

    In addition, Universal Pictures is named a distributor of the film outside Japan, whereas Toho will handle distribution there. Which, for those who have played the first chapter of the game the film is based on, is following that basic plot line.
    'Destiny 2: Curse of Osiris' locks base-game content behind a paywall

    'Destiny 2: Curse of Osiris' locks base-game content behind a paywall

    Likewise, the endgame level and Power Level requirements have also been raised for activities like the raid and Nightfall Strike. Destiny 2 features two levels for identifying player progress in the game.
    UCLA's Steve Alford hasn't spoken to LiAngelo Ball, focused on remaining Bruins

    UCLA's Steve Alford hasn't spoken to LiAngelo Ball, focused on remaining Bruins

    However, a source at UCLA told ESPN's Arash Markazi that this is probably the end for the Ball family at the school. LiAngelo Ball is regarded as a long shot to be drafted in June, and that was before his arrest in China.


Most liked

Ronda Rousey Rumors: UFC Star 'Finalizing Details' to Sign WWE Contract
She was subdued and mostly absent from promotion leading up to the Nunes fight and has largely shunned the spotlight since. Now people close to Rousey have told USA Today and MMA Junkie that she is "finalizing details of her move to WWE ".

VW executive sentenced to 7 years for emissions scandal
Schmidt was charged with 11 felony counts and federal prosecutors said he could have faced a maximum of up to 169 years in prison. Schmidt was also ordered to pay a criminal penalty of $400,000, according to a US Department of Justice (DOJ) press release.

YouTube Reveals Top Trending Videos Of 2017
It's that time again, to jump into the way-back machine for #YouTube Rewind - YouTube's annual look back at the year that was. The masked performer was a contestant on Thailand's aptly named singing competition show " The Mask Singer ".

Bigg Boss 11, Day 66 written updates: Arshi Khan becomes new captain
She was close to both Puneesh and his girlfriend Bandgi Kalra and after Bandai's eviction, Shilpa has been supporting Puneesh. After four alarms, Puneesh Sharma, Shilpa Shinde , Hiten Tejwani, Akash Dadlani lose their claim on captaincy.

AI.type Keyboard App Leaks 31 Million Users' Personal Data
About 10 percent of that data is sent to the server for prediction purposes, but it's not shared with any third party. The data breach was discovered by security researchers Kromtech Security Centre and then corroborated by ZDNet .

Scientists Say Newly-Discovered 'Super Earth' Could Be Hosting Alien Life
If that weren't exciting enough the team then realised that their newly discovered super-Earth wasn't alone and in fact had a neighbour.

Willie Taggart Called Liar by Troy Dye, Ripped by Oregon Players
I don't want to leave, Dad, but if you are going to chase your dream, I am going to ride with you'. "And that meant a lot to me". His son didn't want to leave OR , but told him, "If you're going to chase your dreams, I'm going to ride with you".

John Mayer Hospitalized For Emergency Appendectomy; Postpones Bay Area Show
He had been due to perform at a concert in New Orleans with the Dead & Company, but that date has been postponed. The new date will be announced as soon as possible, according to Amway Center officials.

Huawei P11 rumoured to feature triple lens camera
The information comes from Bruce Lee, Huawei's Vice President of Handsets Product Line, so it's worth remembering. The P11 is likely to be one of 2018's hottest smartphones, with a launch date expected around MWC in February.

Eminem Reveals 'Revival' Tracklist Featuring Ed Sheeran, Beyonce, P!nk, More
The track featuring Sheeran is titled "River". " Walk On Water " debuted on number 2 on the Digital Songs chart. " Revival " will complete a trilogy of albums from Eminem , joining 2009's "Relapse" and 2010's "Recovery".

Lupe Valdez, a Democratic candidate for governor, has declared migrant worker roots
Valdez's campaign said she will "officially notify" Dallas County commissioners of her decision to run for governor this morning. Joaquin Castro of San Antonio to former Houston Mayor Annise Parker and Davis.

Champions League: Final group round in Opta numbers
Chelsea drew 1-1 with Spanish side Atletico Madrid at Stamford Bridge . These restrictions are removed ahead of the quarter-finals. If we finished first, we could also face big teams.

Giants Expect Giancarlo Stanton Decision This Week; Dodgers Biggest Threat
This means that it wouldn't make sense for a team to take on the entire contract as well as include top prospects. The upshot is that taking on a contract like Stanton's would make it hard for them to get under the threshold.

Manchester United Fans Will Love Jose Mourinho's Latest Comments On Luke Shaw
Both of them came in the Carabao Cup fixtures against Burton Albion and Swansea City. "I think Luke Shaw's exactly the same". United don't have many natural left-back options to call upon, with Ashley Young now doing a decent job in the position.

Alaska Airlines to put limits on 'smart bags' starting January 15
Airlines could ban so-called "smart" suitcases from all flights because their batteries pose a fire risk, officials have said. A spokeswoman for Southwest Airlines said the carrier is "in the midst of reviewing their policies and considering changes".