Play Video 2:15 How the Isle of Man became a tax haven – videoMoscovici called on the member states to individually devise sanctions. But because it is the first EU list, it remains an insufficient response to the scale of tax evasion worldwide. Countries that are not on the blacklist will only be fully off the hook once they have fulfilled their commitments. She said: “It is disturbing to see mostly small countries on the EU blacklist, while the most notorious tax havens got away on the ‘grey list’. If the EU were to apply its own criteria to member states, even four EU countries would be blacklisted.

Source: The Guardian December 05, 2017 14:16 UTC