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European Union blacklists 17 tax havens

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The European Union has adopted a “blacklist” of 17 tax havens, officials say.

The decision was made at a meeting of finance ministers in Brussels as EU authorities move to counter tax avoidance.

The action is aimed at countering disclosures about the behaviour of companies and individuals in a series of leaks – the most recent in the release of the so-called Paradise Papers.
EU states launched a process in February to list tax havens in a bid to discourage setting up shell structures abroad.

While most are legal, there are concerns illicit activities may be being missed.
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Source: SKY