Aruba is no longer a tax haven
Credit: Polimedia Press
The EU finance ministers scrap Aruba from the black list of tax havens. According to EU sources from the ANP, they will formally remove Aruba on Friday because it has amended its tax legislation. Barbados and Bermuda are also being removed, so that the list still has twelve tax culprits.
Aruba, a country within the Kingdom of the Netherlands, was blacklisted in March because it had not kept its promise to improve fiscal policy within a year. State Secretary Menno Snel (Finance) then said that The Hague had warned Aruba “to take timely measures” and not to count on Dutch support.
The blacklist is only for countries outside the EU and was drawn up in December 2017 after revelations about tax scandals in the Panama Papers and Paradise Papers. These are countries that (almost) do not levy corporation tax, are not transparent and are not ‘benevolent’ in the fight against tax avoidance.