Antigua and Barbuda granted temporary pass on New EU Tax Haven Blacklist

Seventeen (17) countries around the world were blacklisted as tax havens by the European Union. On that list, several Caribbean islands were named including Antigua and Barbuda, but have received a temporary pass because of the hard hitting effects of the hurricanes this year.
The other islands which received the temporary passes are Anguilla, the Bahamas, the British Virgin Islands, Dominica, St Kitts and Nevis, Turks and Caicos and the US Virgin Islands. According to caribbean360news, they have until next year to deal with the issues, the EU said.
“For jurisdictions affected by natural disasters, it was agreed to put the process temporarily on hold. This refers in particular to countries affected by hurricanes during 2017. They will be asked to address the concerns identified as soon as the situation improves, with a view to resolving them by the end of 2018. By February 2018, they will be contacted to prepare the next steps,” it said in a statement.
However, four Caribbean islands were completely blacklisted. Barbados, Grenada, St Lucia, and Trinidad and Tobago are on the list of countries not doing enough to deal with offshore avoidance schemes which was made public earlier this week after months of EU officials screening tax policies.
The full blacklist is: American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, St Lucia, Samoa, Trinidad and Tobago, Tunisia and the United Arab Emirates.
The list was established following a screening and a dialogue conducted during this year with a large number of third country jurisdictions. Those that appear on the list failed to take meaningful action to address deficiencies identified and did not engage in a meaningful dialogue on the basis of the EU’s criteria.