The European Union has named Hong Kong as one of the international territories and countries that are not cooperating in efforts to fight tax avoidance.
In a list published for the first time, Hong Kong was included along with Brunei as being among the tax havens in Asia.
They join Monaco, Andorra and Guernsey in Europe, and a series of Caribbean havens, including the Cayman Islands and British Virgin Islands in the list of the world’s 30 worst-offending tax havens, Agence France-Presse reported.
“We are today publishing the top 30 non co-operative jurisdictions consisting of those countries or territories that feature on at least 10 member states’ blacklists,” EU Economic Affairs Commissioner Pierre Moscovici was quoted as saying at a news conference Wednesday.
The publication of the blacklist was a “decisive step” that would “push non co-operative non-EU jurisdictions to be more co-operative and adopt international standards”, Moscovici said.
The list was announced alongside more substantive plans for reforming the way in which multinationals are taxed across the EU.
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