Pierre Moscovici also warned that UK tax jurisdictions such as Jersey could find themselves moved from an EU grey list to its black list if they fail to comply with EU standards on exchanging tax information. The black list was set up earlier this month, and Moscovici is still urging the EU to set out clear sanctions to enforce compliance. “Thereafter we will change the list once a year.”He warned the UK not to think that outside the EU it could set itself up as a tax haven. We should not conclude any kind of free trade agreement that is not BEPS-compatible”. Moscovici said he expected the UK to co-operate in agreeing to plans for taxing the digital economy by this summer.

Source: The Guardian December 24, 2017 11:30 UTC