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| 07 December, 2017

Bahrain says it will join BEPS framework to exit EU's tax-haven blacklist

Image used for illustrative purpose.
View of the Harbour Towers in the Bahrain Financial Harbour with Harbour Gate.

Image used for illustrative purpose. View of the Harbour Towers in the Bahrain Financial Harbour with Harbour Gate.

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Bahrain will join a group of countries committed to fighting corporate tax avoidance

DUBAI- Bahrain will join a group of countries committed to fighting corporate tax avoidance as it seeks to be taken off the European Union's tax-haven blacklist, the Bahraini Ministry of Finance said on Thursday.

"Bahrain will commit to be a member of the Inclusive Framework on BEPS ... " the ministry said in an emailed statement to Reuters, listing a series of steps it had already taken to exchange tax information with other countries.

On Tuesday, EU finance ministers adopted a blacklist of 17 jurisdictions deemed to be tax havens, including Bahrain and the United Arab Emirates, in a step to counter worldwide tax avoidance.

(Reporting by Andrew Torchia, editing by Larry King) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))