The European Union has removed Anguilla and Dominica from its tax haven blacklist on Tuesday amid criticism that the trade bloc is letting countries off the hook, particularly in light of the recent Pandora Papers revelations.
Anguilla, Dominica were placed on the list because they did not meet tax transparency criteria.
EU finance ministers, meeting in Luxembourg, endorsed a decision to move them to a grey list after they agreed to a review of their tax systems.
The EU blacklist was set up in 2017 to tackle rampant tax evasion and is regularly updated.
Anguilla and Dominica are now listed as places that do not yet comply with all international tax standards but have committed to the principles of good tax governance.
Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar and Uruguay were also added to this grey list.
Australia, Eswantini and Maldives were removed from it after reforming their tax systems.
The International Consortium of Investigative Journalists and its media partners recently published a massive leak of offshore data dubbed the Pandora Papers.
The cache of almost 12 million files sheds light on the financial activities of many members of the global elite.
Some of the world’s most notorious tax havens are not even listed by the EU.