Bahamas Avoids EU Blacklist

 The Bahamas was spared from being blacklisted as a tax haven in the European Union’s (EU) December 2017 […]

The Bahamas was spared from being blacklisted as a tax haven in the European Union’s (EU) December 2017 blacklist after months of waiting and speculation. This country, however, is still not yet clear of the danger of joining the list.

While The Bahamas was not named on the blacklist, the EU placed eight jurisdictions on watch that were impacted “badly” by hurricanes this summer, including The Bahamas. The EU said that these jurisdictions, which were given special consideration, have been given until early 2018 to respond to the EU’s concerns, suggesting that there is still work to be done.

The EU also pointed out that special consideration was given to the situation of developing countries.

“Least developed countries without financial centers were automatically excluded from the screening process, while other developing countries without financial centers were given more time to address their shortcomings,” the EU said.

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