EU Removes Albania from Grey Tax-Haven List

EU Removes Albania from Grey Tax-Haven List

TIRANA, October 10

The EU removed Albania along with six other countries from its list of tax havens on Thursday following a meeting of European Union finance ministers in Luxembourg.

“Albania, Costa Rica, Mauritius, Serbia, and Switzerland have implemented ahead of their deadline all necessary reforms to comply with EU tax good governance principles. These countries will be removed from annex II of the conclusions,” the EU announcement said.
The grey list includes nations that have committed to change their tax rules to make them compliant with EU standards.
Meanwhile, the United Arab Emirates and the Marshall Islands were removed from the blacklist as they have both passed the necessary reforms to implement the commitments they had made to improve by the end of 2018 their tax policy framework by introducing economic substance requirements.

Currently, nine jurisdictions remain on the list of non-cooperative jurisdictions: American Samoa, Belize, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the US Virgin Islands and Vanuatu.

Source: consislium.europa.eu

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