The new list has territories that facilitate companies without real economic activity, have very low taxation or do not exchange tax information.
The Ministry of Finance and Public Function has updated the list of countries and territories considered as tax havens, that is, those places that are considered to have “harmful tax regimes or non-cooperative jurisdictions”.
In this way, the Ministry complies with the provisions of the Law on measures to prevent and combat tax fraud; a rule that, with the aim of combating tax fraud, expanded the concept of “tax haven” to adapt it to the international concept of “non-cooperative jurisdiction” and established new factors.
Therefore, this new list includes those places that facilitate the existence of offshore companies whose objective is to attract benefits but do not have real economic activity, territories that have zero or very low taxation and also those with which there is no exchange effective tax information.
The first list of this type that was prepared 30 years ago had 48 names of territories. Over the years, it has been reduced as information exchange agreements have been signed.
The latest list, updated by the Ministry of Finance and published today in the BOE, contains the following countries and territories:
• Eel
• Bahrain
• Barbados
• Bermuda
• Dominica
• Fiji
• Gibraltar
• Guam
• Guernsey
• Isle of Man
• Cayman Islands
• Falkland Islands
• Mariana Islands
• Solomon Islands
• Turks and Caicos Islands
• British Virgin Islands
• Virgin Islands of the United States of America
• Sweater
• Palau
• Samoa (as regards the offshore business)
• American Samoa
• Seychelles
• Trinidad and Tobago
• Vanuatu
Source: Eitb
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