Chief Executive wants Macau removed from EU tax haven list

13 December 2017

Macau actively cooperates with the international community in jointly combating cross-border tax avoidance and tax evasion, said the Chief Executive, Chui Sai On, on Tuesday when he met with Hong Kong-based consuls-general of the European Union for both Hong Kong and Macau.

Chui Sai On, after hearing the clarification from the head of the European Union Office for Hong Kong and Macau, Carmen Cano de Lasala, about the decision to classify Macau as one of the jurisdictions considered to be non-cooperative in tax evasion, said that the Macau Government will study the matter further and keep in contact with the European Union after it receives the official EU documents in which the territory has been classified as a tax haven.

Chui Sai On also stressed that the departments responsible are preparing to extend the “Multilateral Convention on Mutual Assistance in Tax Matters” to Macau and added that he hoped that, after its implementation in the territory, the Special Administrative Region would meet the requirements for the EU’s current classification to be lifted.

EU Finance Ministers, meeting last week in Brussels, adopted a “black list” of 17 tax havens that are considered to be non-cooperative jurisdictions, including Macau.

The “black list” includes American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, the Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and the United Arab Emirates.

In addition to this list of 17 jurisdictions considered to be non-cooperative, the EU drew up a “grey” list of 47 jurisdictions that have undertaken to meet the required criteria and will be re-assessed, including Cabo Verde (Cape Verde).(macauhub)