EU to remove Switzerland from tax haven lists

European Union finance ministers are set to remove Switzerland from the bloc’s lists of countries deemed to act as tax havens, an EU document said.

On October 10 they are expected to remove Switzerland from the grey list that includes countries that have committed to change their tax rules to make them compliant with EU standards.

Switzerland has delivered on its commitments, the document issued at the end of last week said, acknowledging that a tax reform passed last year – and due to be in force from 2020 – was sufficient to meet EU demands.

The United Arab Emirates (UAE) will be dropped from the blacklist, which includes jurisdictions that have failed to cooperate with the EU on tax matters. The Pacific archipelago of the Marshall Islands will also be removed from that list.

That would leave nine jurisdictions on the list: Belize, Fiji, Oman, Samoa, Trinidad and Tobago, Vanuatu and the three US territories of American Samoa, Guam and the US Virgin Islands.

Via SwissInfo