EU to remove Armenia from tax haven "grey list" – Financial TimesFebruary 13, 2020 - 15:50 AMT PanARMENIAN.Net - The European Union is expected to remove Armenia from the "grey list" of foreign tax havens, Financial Times reports. The EU list of non-cooperative tax jurisdictions – or the "blacklist" – currently includes eight overseas tax territories that do not effectively co-operate with the EU. The "grey list" of countries, meanwhile, are qualified as tax havens and have promised reforms. The EU first set up its list of tax havens in 2017 in an attempt to put pressure on countries to crack down on tax havens and unfair competition. Blacklisted countries face difficulties accessing EU funding programmes and European companies doing business in those jurisdictions have to take additional compliance measures. The European Commission said in March 2019 that Armenia was among the 34 jurisdictions that have already taken many positive steps to comply with the requirements under the EU listing process, but should complete this work by the end of 2019 to avoid being blacklisted in 2020. EU27 ambassadors on Wednesday, February 12 took a decision to place the Cayman Islands – an autonomous British Overseas Territory – on a the list foreign tax havens. Officials said that Turkey, which is currently on the “grey” list, would not be moved to the blacklist despite concerns about its information sharing with some EU member states. The Bahamas will also be removed. Top stories Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. Partner news | Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. Ex-President: Only removal of “defeatist” rulers can save Armenia Former Armenian President Serzh Sargsyan has shared a message on the 109th anniversary of the Armenian Genocide. Pashinyan: We must stop searching for homeland, we have found that homeland Prime Minister Nikol Pashinyan has shared a message on the 109th anniversary of the Armenian Genocide. |