• Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
Close Search
00
GBAF LogoGBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends
GBAF Logo
  • Top Stories
  • Interviews
  • Business
  • Finance
  • Banking
  • Technology
  • Investing
  • Trading
  • Videos
  • Awards
  • Magazines
  • Headlines
  • Trends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Wealth
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Gbaf News

    Posted on October 18, 2016

    Featured image for article about Finance

    On September 15, 2016 the European Commission published a report with indicators which aims to eliminate the tax avoidance, and indicate the non-cooperative third country tax jurisdictions. The scoreboard offers a summary of the tax systems of third-country jurisdictions to help EU Member States recognise which countries may require further evaluation regarding tax governance issues. According to the EU Commission this screening process will be finalised by summer 2017,and later within the year the completed list of non-cooperative jurisdictions will be released.

    Background

    In January 2016, the EU Commission presented its Anti-Tax Avoidance Package. Additionally the EU Commission proposed a common method and approach to third country jurisdictions that would replace the current national lists with a unique and transparent list for all EU member states.

    Scoreboard indicators

    The Commission finalised the scoreboard by investigating the tax systems of all non-EU countries against the three ‘scoreboard indicators’ below;

    1) Economic ties with the EU: this evaluates how strong the ties are of each country with the EU and includes trade data and bilateral foreign direct investment (FDI) flows.

    2) The level financial activity in the jurisdiction: measured against the financial activity and real economy in each country, using data including FDI flows, financial income flows and statistics on foreign affiliates

    3) Stability factors: general governance indicators, such as anti-corruption measures and regulatory quality, were measured to determine if the jurisdiction would be viewed as a safe location by tax avoiders/evaders.

    Risk assessment

    A core risk assessment of the risk level of countries was made by the EU to ease tax avoidance using the following three risk indicators:

    • Absence of transparency and exchange of information under international regulations;
    • The existence of preferential tax regimes as identified by the Commission using publicly available information;
    • Zero corporate income tax.

    The preliminary assessment showed that none of the countries evaluated have all three risk indicators. Forty-five countries had two indicators and thirty-four countries had one risk indicator. The remaining countries had no risk indicators at all.

    In October the EU Commission will agree the final list of countries to be screened.
    Once the screening phase is finalized, the Code of Conduct Group will present its recommendations on jurisdictions to be included on the EU blacklist by October 2017.

    On September 15, 2016 the European Commission published a report with indicators which aims to eliminate the tax avoidance, and indicate the non-cooperative third country tax jurisdictions. The scoreboard offers a summary of the tax systems of third-country jurisdictions to help EU Member States recognise which countries may require further evaluation regarding tax governance issues. According to the EU Commission this screening process will be finalised by summer 2017,and later within the year the completed list of non-cooperative jurisdictions will be released.

    Background

    In January 2016, the EU Commission presented its Anti-Tax Avoidance Package. Additionally the EU Commission proposed a common method and approach to third country jurisdictions that would replace the current national lists with a unique and transparent list for all EU member states.

    Scoreboard indicators

    The Commission finalised the scoreboard by investigating the tax systems of all non-EU countries against the three ‘scoreboard indicators’ below;

    1) Economic ties with the EU: this evaluates how strong the ties are of each country with the EU and includes trade data and bilateral foreign direct investment (FDI) flows.

    2) The level financial activity in the jurisdiction: measured against the financial activity and real economy in each country, using data including FDI flows, financial income flows and statistics on foreign affiliates

    3) Stability factors: general governance indicators, such as anti-corruption measures and regulatory quality, were measured to determine if the jurisdiction would be viewed as a safe location by tax avoiders/evaders.

    Risk assessment

    A core risk assessment of the risk level of countries was made by the EU to ease tax avoidance using the following three risk indicators:

    • Absence of transparency and exchange of information under international regulations;
    • The existence of preferential tax regimes as identified by the Commission using publicly available information;
    • Zero corporate income tax.

    The preliminary assessment showed that none of the countries evaluated have all three risk indicators. Forty-five countries had two indicators and thirty-four countries had one risk indicator. The remaining countries had no risk indicators at all.

    In October the EU Commission will agree the final list of countries to be screened.
    Once the screening phase is finalized, the Code of Conduct Group will present its recommendations on jurisdictions to be included on the EU blacklist by October 2017.

    Recommended for you

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    • Thumbnail for recommended article

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe