EU removes Aruba, Barbados, Bermuda from tax haven blacklist

Blacklist

The decision leaves 12 jurisdictions on the list: American Samoa, Belize, Dominica, Fiji, Guam, the Marshall Islands, Oman, Samoa, Trinidad and Tobago, the United Arab Emirates, the U.S. Virgin Islands and Vanuatu.

“Barbados has made commitments at a high political level to remedy EU concerns,’’ the bloc’s foreign ministers said in a statement, while Aruba and Bermuda had both implemented commitments made.

According to the statement, Barbados and Bermuda have been moved to a so-called grey list of several dozen countries whose commitments are being monitored closely, while Aruba is fully in the clear.

The Oxfam anti-poverty advocacy group criticised the move.

“EU governments have, once again, let some of the world’s worst tax havens off the hook.

“The reforms agreed by Bermuda, Barbados and Aruba will not stop them operating as tax havens,’’ Oxfam’s Chiara Putaturo said.

The EU’s blacklist system was set up in 2017 as part of a broader crackdown.