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EU Says New Zealand Not In 'Tax Haven Probe'

by Mary Swire, Tax-News.com, Hong Kong

03 August 2016


Media reports that the European Union is targeting New Zealand for investigation as a tax haven are incorrect and misleading, the EU said in a statement on August 3, 2016.

The EU is currently undertaking an assessment of all non-EU countries with regard to good governance standards on taxation policies. This assessment is not specific to New Zealand, nor has New Zealand been singled out in any way in this assessment, the statement said.

In January 2016 – three months before the Panama Papers revelations – the European Commission proposed, in its External Strategy for Effective Taxation, a new process for creating a list of non-EU states that do not respect tax good governance standards. This list, which is part of a package of new measures against corporate tax avoidance, is intended to replace current EU national lists with a single EU list, based on international standards.

Only those countries that refuse to comply with international tax good governance standards, or to engage with the EU in addressing concerns raised, will be listed.

TAGS: compliance | tax | European Commission | tax compliance | tax avoidance | New Zealand | standards | European Union (EU) | Europe | Tax | Tax Evasion

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