The official Spanish Gazette published a list which consists of Falklands/Malvinas and Gibraltar as tax havens allegedly involved in Money Laundering.
The latest list of countries & territories includes the Falklands/Malvinas and Gibraltar among the areas considered tax havens by the Spanish Government, allegedly involved in crimes such as money laundering. The report followed the latest international concept of non-cooperative jurisdiction in the matter.
On Feb 10, a list was published by the official Spanish Gazette and “will be submitted to review according to international legislation and the different national advances.”
According to the new concept, reflected in the Spanish bill against crimes, the list of tax havens including countries and territories, also contains 24 names in so-called harmful fiscal regimes, which is half of what it was three decades back in figure 48.
The List published by the Moncloa Palace, the seat of the Executive, includes Gibraltar, Guam, Guernsey, Isle of Man, Anguilla, Bahrain, Barbados, Bermudas, Dominica, Fiji, Cayman Islands, Falklands/Malvinas Islands, Marianne Islands, Salomon Islands, Turks and Caicos Islands, US Samoa, Seychelles, British Virgin Islands, US Virgin Islands, Jersey, Palau, Samoa, Trinidad and Tobago and Vanuatu.
The List was published last Friday by the Official Spanish Gazette and “will be submitted to review according to international legislation and the different national advances.”
Accordingly, it also represents an update of the criteria determining the countries and territories that lie under the non-cooperative jurisdiction, in line with the work developed in the framework of the European Union and OCDE (Organization for Economic Cooperation and Development)
The bill demands criteria of transparency and fiscal fitness, mentioning the territories characterised for facilitating an extraterritorial activity or because of the low or absence of the tax.
It also elaborated on the lack of transparency because of the country’s non-existence with tax information exchange with Spain.
Finally, “these criteria valued jointly are the ones that have allowed updating the list of countries and territories, according to Spanish Royal Decree 1080/1991/ The list originally published thirty years ago, initially had 48 territories, but that with time and specific agreements of information exchange, or to avoid double taxation has been reduced.”
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