Bahrain to be removed from EU tax haven list

Manama : Bahrain will be removed from European Union’s list of tax havens, it emerged.

Bahrain along with Marshall Islands and Saint Lucia are to be delisted following a decision made by EU Code of Conduct Group, which includes tax experts from the 28 member states. The decision to remove Bahrain from the list comes after the nation made specific commitments to change its tax rules, according to a document obtained by Reuters.

According to Reuters, EU finance ministers are expected to endorse the decision next week.

“Bahrain, the Marshall Islands and Saint Lucia were delisted after they made “specific commitments” to adapt their tax rules and practices to EU standards, the document says. These commitments are not public,” a Reuters report stated. However, American Samoa, Guam, Namibia, Palau, Samoa and Trinidad and Tobago remain on the list of tax havens.