Each tax heaven soon to be black-listed

All countries that served as a tax haven and were in the center of the Panama documents affair will soon be, upon the proposal of EU countries, listed at a single black list.

EU countries required in the beginning of the month that, in order to decrease tax evasion abuse, a single blacklist of countries which were tax havens and enabled tax evasion for many millions and billions, is made as soon as possible and today the proposal was supported by finance ministers of 28 EU countries.

The European Commission believes the countries and peoples which are black listed should be sanctioned if calls for change are not effective.

EU and some countries had several different lists that were mainly ineffective.

Panama documents are 11.5 m published confidential documents containing detailed information on 214,000 offshore companies thanks to which numerous powerful people around the world avoid paying taxes in their own countries.