Hong Kong, Qatar, Others Added to EU Tax Haven Watchlist

The European Union has added Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar, and Uruguay to a so-called gray list of jurisdictions given more time to comply with anti-tax avoidance and transparency standards.

As predicted, Anguilla, Dominica, and Seychelles were removed from a separate list designating them as tax havens and moved to the gray list. EU finance ministers were convinced to make the move after the countries made tax information exchange reforms, which are subject to review by the OECD Global Forum.

• Under EU public country-by-country reporting rules currently being finalized, large multinationals would have to publish ...