The European Union's executive branch will draft a new, expanded blacklist of nations vulnerable to financial crime this year after lawmakers demanded more concerted action against high-profile tax havens, a senior official said Tuesday.
The European Parliament on Thursday overwhelmingly rejected a proposed blacklist of nations prone to financial crimes because it did not include offshore jurisdictions frequently involved in tax violations, say sources.
The Council of the European Union published conclusions on the list of non-cooperative jurisdictions for tax purposes that names 17 countries that have failed to meet agreed tax good governance standards. Additionally, the conclusions note that 47 countries have committed to addressing deficiencies.
December 5, 2017
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