Cabo Verde removed from “blacklist” of tax havens in the European Union

19 February 2020

The removal of Cabo Verde from the “blacklist” of tax havens in the European Union is “a solid step towards the international transparency that the country intends to achieve,” said on Tuesday the deputy prime minister and minister of Finance.

Minister Olavo Correia, in a statement issued in Praiah, said that the decision another “success” for the country, for which “it was the commitment of Parliament and its members was crucial, as they were focused on the cause,” as well as the team that worked pn the process, with a view to meeting European Community requirements.

The Council of the European Union on Tuesday updated the “blacklist” of tax havens that do not respect Community rules, adding the Cayman Islands, Palau, Panama and the Seychelles for not having adopted the reforms that they had committed to and removing Cabo Verde, along with 15 other jurisdictions.

The four countries added to the “blacklist” join the eight districts that were already on the list and remain non-compliant: American Samoa, Fiji, Guam, Samoa, Oman, Trinidad and Tobago, Jamaica and the United States Virgin Islands.

The document is constantly updated, and this year, 16 jurisdictions were removed from the list (Antigua and Barbuda, Armenia, the Bahamas, Barbados, Belize, Bermuda, the British Virgin Islands, Cabo Verde, the Cook Islands, Curacao, the Marshall Islands, Nauru, Montenegro, Niuê, Saint Kitts and Nevis, and Vietnam) for “implementing all the reforms necessary to comply with the principles of the EU in terms of good tax governance before the agreed deadline,” said the Council in its statement. (macauhub)