Quick Take: Is Macau a Tax Haven? You Bet, EU Says
A spokesperson for the Macau government denied that the territory is a tax haven, saying the territory has been working with the EU and Organization for Economic Cooperation and Development countries to police cross-border tax evasion. Pictured are the Ruins of St. Paul, a Macau landmark. Photo: Visual China
Macau, a small Chinese island famed for its casinos, is among the 17 territories that the European Union has recently blacklisted as tax havens.
In the EU’s first such list, territories or countries are labeled so-called “non-cooperative jurisdictions” if their tax regimes are not sufficiently transparent or fair, or their tax systems encourage multinationals to shift profits out of the territory to evade tax payments, the Council of the European Union said in a statement dated Tuesday.
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