Lux, Belg both removed from tax haven grey list - Spear's Magazine

Lux, Belg both removed from tax haven grey list

Luxembourg and Belgium have both been removed from the ‘grey’ list of countries that refuse to share tax information, leaving Austria as the only EU member still on the OECD list.

Luxembourg and Belgium have both been removed from the ‘grey’ list of countries that refuse to share tax information, leaving Austria as the only EU member still on the OECD list.

Their removal means that the two will escape potential punishment when governments evaluate in September whether countries are living up to their commitments to fight tax evasion.

While Austria is still on the list, its government has contacted other countries proposing the launch of negotiations on information-sharing.

EU law obliges countries automatically to share data on the taxation of savings income, but Luxembourg, Austria and Belgium were exempted from this obligation until San Marino, Monaco, Andorra, Liechtenstein and Switzerland have agreed to share this information with the EU on request.

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