The European Union on Tuesday put 17 non-EU countries on a blacklist of those it deems guilty of unfairly offering tax avoidance schemes.
EU Vice President Valdis Dombrovskis said after a meeting of the bloc’s finance ministers that beyond the 17 nations, over 40 more were put on a “grey list” to be monitored until they are fully committed to reforms.
“Tax havens will not disappear from our radars and we will keep the pressure on,” he said.
The EU said those blacklisted had refused to cooperate and change their way after almost one year of consultations.
They are: American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, St. Lucia, Samoa, Trinidad Tobago, Tunisia and United Arab Emirates.
Panama’s president, Juan Carlos Varela, objected to his country being on the list, saying it is making