19 February, 2020
3 Min Read
Syllabus subtopic: Effect of Policies and Politics of Developed and Developing Countries on India’s interests, Indian Diaspora.
Prelims and Mains focus: about the move and its implications; about tax haven and its characteristics
News: European Union finance ministers added Panama, the Seychelles, the Cayman Islands and Palau to the EU’s blacklist of tax havens, while giving Turkey more time to avoid being listed.
What are the implications?
Those on the blacklist face reputational damages, higher scrutiny in their financial transactions and risk losing EU funds.
What Is a Tax Haven?
Source: Indian Express
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