Bulgaria Removes Gibraltar from Tax Haven List

Gibraltar is now listed for tax purposes only by five EU member states, namely Croatia, Greece, Lithuania, Portugal, and Spain.

Gibraltar is not anymore on Bulgaria's "tax haven list", the European Commission website shows.

Local daily Gibraltar Chronicle points to the development as a result of "intensive lobbying" by Gibraltar's Finance Minister Albert Isola and the Gibraltar Finance Bulgaria team.

The nation of 32 000 is now shown as "listed" for tax purposes only by Croatia, Greece, Lithuania, Portugal, and Spain.

It recently carried out successful negotiations with Canada, Estonia, Italy, Latvia and Poland and subsequently contacted the Bulgarian Finance Ministry after meeting with Bulgaria's Ambassador to the UK, Konstantin Dimitrov.

The list includes an "overview" of how member states estimate third countries' application of standards of tax good governance.

Bulgaria currently lists other tiny European states such as Andorra, the British Virgin Islands, the Isla of Man, and Monaco.

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