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EU removes Morocco from gray list of tax havens

Morocco is no longer on the gray list of tax havens in the European Union (EU). So decided the Union’s Foreign Affairs Council on Monday.

The conclusions of the Council of the EU, approved on Monday, 22 February 2021, are the final and definitive step in the procedure which follows the green light from the ambassadors of the EU member states and confirms the kingdom’s final exit from the list gray of the EU, which thus becomes “Green Listed”, indicates the Ministry of Finance in a press release.

For the department of Mohamed Benchaâboun, this development shows that the reforms undertaken by the kingdom in tax matters are in harmony with EU conditions and international standards, as well as the positive cooperation between the Moroccan and European authorities on this subject.

Besides Morocco, countries like Namibia and Saint Lucia have also been taken off the EU’s gray list. There are now nine of these countries: Australia, Barbados, Botswana, Swaziland, Jamaica, Jordan, Maldives, Thailand and Turkey.

According to the established update, 12 jurisdictions such as American Samoa, Eel, Dominica, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, Vanuatu and the US Virgin Islands are on the blacklist.

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