Daily Tax Report: International

EU to Take Belize Off Tax Haven List As Country Plans Reforms

Nov. 4, 2019, 4:03 PM

The European Union plans to drop Belize from its tax haven black list Nov. 8 because the country committed to changes to stop corporate tax dodgers.

In addition, North Macedonia will be removed from a gray list after it adopted legislation to ensure the transfer of bank information in order fight tax evasion. Gray-listed companies are considered tax havens but have promised reforms. The moves will take place at an EU finance minister meeting in Brussels.

Belize’s removal comes after the country committed in October to revise tax legislation known as the International Business Companies (IBC) Act, according to a...

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