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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |