UAE 'surprised and disappointed' over European Union blacklisting

by Leon Thompson December 8, 2017, 1:30
UAE 'surprised and disappointed' over European Union blacklisting

The EU originally screened a total of 92 jurisdictions and once the list is compiled it is expected to be continuously updated.

The son of Founding President Sam Nujoma, Zackey Nujoma, and his relationship with convicted Italian mafioso Vito Palazzolo, and the son of his best friend, count Rocky Agusta, was also mentioned in the Panama Papers, along with Russian billionaire Rashid Sardarov, who owns vast tracts of land in Namibia.

"The placement in the list must not be seen as the end game: on the contrary, the exercise is ongoing and remains a matter of cooperation between partners", he said.

The UK's Guardian reported that the blacklist will be linked to European Union legislation so that jurisdictions implicated will not be eligible for funds from the bloc, except where funds are for development. "This list needs to be effective, meaning that it needs to allow us to impose sanctions so that those who don't respect rules will change their behavior".

Potential countermeasures that have been tabled on behalf of the European Commission, include limiting access for listed jurisdictions to the European Fund for Sustainable Development, as EU-28 level measures, while the member states could on a country to country bass reinforce monitoring of transactions, increase audit risks for taxpayers benefiting from the regimes at stake or for those using structure involving these jurisdictions.

"If someone wants additional sanctions, they can talk about it".

The EU had struggled for more than a year to agree on the list due to internal divisions.

Harold Ford Jr., former congressman, denies sexual harassment allegations
Ford denied the accusation and said that he would "be bringing legal action" against the accuser as well as Morgan Stanley. He is alson one of the most visible members MSNBC's team of contributors - particularly on the network's " Morning Joe ".

"To be on a blacklist is in itself bad enough and of course there will be consequences for these countries", Luxembourg Finance Minister Pierre Gramegna said.

Though being hailed as a vital "first step", the failure of the member states to come to an agreement on any sanctions for those blacklisted provoked the European commissioner for economic and financial affairs, Pierre Moscovici, to openly admit it was as yet "an insufficient response".

"It seems the EU's pressure has obliged some of the most notorious tax havens like Switzerland and Bermuda to commit to reforms", said Aurore Chardonnet, from the Oxfam NGO.

Panama recalled its ambassador from Brussels for consultations after the Central American country was included on a European Union blacklist of countries deemed as tax havens, the government said on Wednesday.

He admitted however that some practices should be "prohibited" or "fought" in some member states.

"There is no tax haven in the EU", Moscovici assured, insisting that EU member states "respect worldwide standards".


TOP News

Natrez Patrick arrested again according to jail report
Whether Stanley gets the same punishment remains to be seen, but it doesn't appear he has been arrested during his Georgia career. Patrick, a junior from Atlanta, is the Bulldogs' fifth-leading tackler with 35 stops this season.

Amazon Prime Video now available on Apple TV
Amazon kicked the Chromecast, Google's television player, off its retail website in 2015, along with Apple Inc's TV player. FireTV is now sans YouTube, and while Chromecast can view Amazon Prime , it's not as easy to access as other channels.

Quake of 5.5 magnitude jolts Uttarakhand
However, no casualties have reported yet; the reports suggested Uttrakhand was the epicentre of the natural disaster . The epicentre of the quake was at 30 km depth, and the tremor is considered moderate.

Destiny 2 expansion pack Curse of Osiris gets launch trailer, now available
In the meantime, be sure to look over the patch notes for Destiny 2: Curse of Osiris to get an idea of what the download contains. We'll be walking you through all of these in great detail, just as soon as we experience them for ourselves.

Pamela Anderson responds to backlash over Harvey Weinstein comments
Kelly then pointed out that numerous meetings were set up by agents, to which Anderson said that was "not a good excuse". In a follow up post she wrote: 'I do NOT wish apologise for what I said, and will not get coerced into apology.

Mega Man 11 Officially Announced
It sports 2.5D design direction, completely hand-drawn characters and environments, a mysterious new Robot Master, and more. Well, the Blue Bomber's exile is officially over, as Capcom has announced Mega Man 11 .

Samsung starts production of 512GB eUFS chips, could appear in Galaxy S9
The new 512GB UFS increases the density of the 256GB eUFS storage from 48 layers to 64 layers and also includes a controller chip. As for raw performance, Samsung's 512GB eUFS boasts sequential read and write speeds of up to 860MB/s and 255MB/s, respectively.

U.S. quits talks on global migration pact over sovereignty clash
More recently, America pulled out of the Paris-based culture and education body, UNESCO , accusing it of "anti-Israel bias". President Barack Obama's administration backed the resolution, known as the New York Declaration, which also asked U.N.

Maradona confident Argentina can qualify ahead of Nigeria
Argentina did not have superstar Lionel Messi last month. "But I am confident that we can make it out of the group", he said. Their fans will be there and it will be like they're playing at home.

Hundreds of firefighters battle dynamic brush fire in Southern California
Stunned motorists found the hillside ablaze and gridlock below as fire raced towards the homes of numerous city's rich and famous. It was reported at six acres but quickly grew to at least 50 acres as crews were working against 25 miles per hour winds.