Last month, the EU Commission (EC) published a “black list” of jurisdictions that are non-cooperative. This list was comprised of 30 countries, which seemingly have been found to not meet transparency standards that are in line with the rest of the European Union.
EU standards also include reasonable tax competition and the disclosure of information. The EC released a statement that insisted that the list obtained its data from comparable lists that have been prepared by Union Member States.
As a matter of fact, most EU Member States, such as the UK, Germany, the Netherlands, Austria, Sweden, Denmark, Ireland, and Hungary, have never released a blacklist. Rather, only 12 Member States have actually released such list for the EC to base its work from.
Even experts who campaign for stricter actions to be taken to combat tax abuse are cautious of this particular report from the Commission; even with one activist stating it is best example of “awful policy making from the European Union”.