Niue has been removed from the European Union list of non-cooperative tax jurisdictions
According to the European Union, Niue has been listed as one of the countries that have managed to implement all the necessary reforms to comply with EU tax good governance principles ahead of the agreed deadline in 2019.
The EU blacklist, first adopted on December 5, 2017, is part of the EU’s effort to clamp down on tax avoidance and harmful tax practices.
“The countries were placed on this list because of three main reasons. The first one was because they did not rectify or join the main instruments on tax transparency and exchange of information at the global level on tax matters. The second reason is that they had in place some tax regimes which favor what we call base erosion and profit shifting which procured financial benefits to the countries and third one was because some of the countries had what we call damaging tax regimes which is designed to attract international investment but to the detriment of the other countries.
So Niue was placed on this list a long time ago, but im very happy that now they’ve been removed from the list , very good achievement and that’s good that it happened just before my visit. “ ” said EU Ambassador to Niue and the Pacific Sujiro seam
Other countries removed from the EU’s blacklist include the Cook Islands, Nauru and the Marshall Islands.