EU blacklist

Vanuatu Finance Minister wants legislation amended to address blacklisting

Radio New Zealand had reported that the blacklisting was made by France but Minister Pikioune said it was the EU that made the list.

He said Vanuatu was included mainly due to its status as a tax haven country that could attract tax evaders from Europe.

Minister Pikioune said Vanuatu needs to amend legislations covering international companies under the Vanuatu Financial Services Commission.

An amendment is also needed for the Tax Administration Act.

“The Bill did not mature in the last parliament session for debate, which was why it was not discussed.

EU tax blacklist could block Pacific trade - expert

Vanuatu, Fiji and the Marshall Islands were added to the 28-nation list on Wednesday, joining Samoa, American Samoa and Guam.

The group countries have not yet been hit with economic sanctions but will face restrictions on transactions and reputational damage.

Mark Stafford, a partner at Port Vila consultancy Barrett and Partners, said Pacific nations would be hit hard by a potential trade block from the EU.