EU to remove Armenia from tax haven "grey list" – Financial TimesFebruary 13, 2020 - 15:50 AMT PanARMENIAN.Net - The European Union is expected to remove Armenia from the "grey list" of foreign tax havens, Financial Times reports. The EU list of non-cooperative tax jurisdictions – or the "blacklist" – currently includes eight overseas tax territories that do not effectively co-operate with the EU. The "grey list" of countries, meanwhile, are qualified as tax havens and have promised reforms. The EU first set up its list of tax havens in 2017 in an attempt to put pressure on countries to crack down on tax havens and unfair competition. Blacklisted countries face difficulties accessing EU funding programmes and European companies doing business in those jurisdictions have to take additional compliance measures. The European Commission said in March 2019 that Armenia was among the 34 jurisdictions that have already taken many positive steps to comply with the requirements under the EU listing process, but should complete this work by the end of 2019 to avoid being blacklisted in 2020. EU27 ambassadors on Wednesday, February 12 took a decision to place the Cayman Islands – an autonomous British Overseas Territory – on a the list foreign tax havens. Officials said that Turkey, which is currently on the “grey” list, would not be moved to the blacklist despite concerns about its information sharing with some EU member states. The Bahamas will also be removed. Top stories The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. London’s Armenian community has been left feeling “under attack” after the city’s Genocide monument was vandalised. The United States believes there should be an international mission to provide transparency. Partner news | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |