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Economy

Taxation: Bercy softer on the definition of tax havens than Brussels

Translated Monday 28 December 2015, by Adrian Jordan

The ministry of finance withdrew the British Virgin Islands and Montserrat, another Caribbean island, from its list of non-cooperative states and territories (NCST) in tax matters, the other name to describe tax havens

The Ministry of Finance withdrew the British Virgin Islands and Montserrat, another Caribbean island, from its list of non-cooperative states and territories (NCSTs) in tax matters, the other name to describe tax havens. "Almost all the demands made of the British Virgin Islands have been successful" proffers the ministry of finance in Bercy, explaining the withdrawal of the UK overseas territory from its list. The decree signed on Monday by finance minister Michel Sapin, also concerns Montserrat, another dependent territory of the UK. After these two withdrawals, the list of non-cooperative states and territories, updated yearly, now contains only six states: Botswana, Brunei, Guatemala, Marshall Islands, Nauru and Niue. While, for the European Commission, there were thirty states in its fight against tax evasion by multinational companies presented in June. Which one is wrong..? Lionel Venturini


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