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Euro MPs block Rock's exit from tax 'greylist'
Finance

Euro MPs block Rock's exit from tax 'greylist'

MEPs have rejected the European Commission's decision to exclude Gibraltar from the list of territories that pose a threat to the EU's financial system because of their regulatory shortcomings in the area of money laundering and terrorist financing

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Gibraltar

Friday, 3 May 2024, 17:21

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MEPs have rejected by a big majority the European Commission's decision to exclude Gibraltar, along with Barbados, Panama, Uganda and the United Arab Emirates, from the list of territories that pose a threat to the EU's financial system because of their regulatory shortcomings in the area of money laundering and terrorist financing.

Brussels took the decision to remove these territories from its list of high-tax-risk countries in March.

The Euro parliament said that "Gibraltar and Panama lack efforts to address or even facilitate the avoidance of sanctions imposed on Russia".

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