EU denies listing Namibia as tax haven

EU denies listing Namibia as tax haven

The European Union (EU) ambassador to Namibia said Namibia was never listed as a tax haven as reported by the international media.
Jana Hybaskova said Namibia was invited to join the Global Forum on Transparency and Exchange of Information for tax purposes to protect it from misuse on tax by foreign entities.
She said Namibia was only listed as a non-cooperative jurisdiction with other 17 countries because it has not responded to the invitation of the Multilateral Conversion on Mutual Administrative Assistance on tax matters.
One of the the measures put to Namibia for consideration was to abolish or amend harmful preferential tax regimes.
Namibia can be delisted once it considers or respond to the invitation.
Hybaskova said another letter will be send to the government to respond.
Namibia has, according to the EU Council, until December 2019 to comply with the suggested rules or face blacklisting.
It will not however be listed as tax haven.
The EU Delegation head said there are currently no direct sanctions applied against Namibia and that the EU's projects worth 70 million Euro will continue to run.