EU removes Armenia from tax havens "grey list"February 19, 2020 - 12:52 AMT PanARMENIAN.Net - Armenia has been removed from the EU "grey list" of non-cooperative tax jurisdictions, according to a decision approved by the Council of the European Union. The EU "blacklist" of non-cooperative tax jurisdictions includes overseas tax territories that do not effectively co-operate with the EU. Countries on the "grey list", meanwhile, are qualified as tax havens and have promised reforms. The Council on Tuesday, February 18 adopted revised conclusions on the EU list of non-cooperative jurisdictions for tax purposes. Joining Armenia in the list of jurisdictions that managed to implement all the necessary reforms to comply with EU tax good governance principles were Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cabo Verde, Cook Islands, Curaçao, Marshall Islands, Montenegro, Nauru, Niue, Saint Kitts and Nevis, Vietnam. In addition to the 8 jurisdictions that were already blacklisted, the EU also decided to include the following jurisdictions in its list of non- cooperative tax jurisdictions: Cayman Islands, Palau, Panama, and Seychelles. 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. |