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.