Turk­ish N-plant.

Kathimerini English - - Focus -

The bloc com­mit­ted in May to agree on a com­mon list of tax of­fend­ers by the end of next year, af­ter leaked doc­u­ments – the so-called Panama Pa­pers – that showed how some multi­na­tion­als and in­di­vid­u­als avoided pay­ing tax, caused world­wide out­rage. Yes­ter­day’s agree­ment on defin­ing tax havens cited zero-rate tax only as “an in­di­ca­tor of pos­si­ble un­fair prac­tices,” Italy’s Fi­nance Min­is­ter Pier Carlo Padoan said af­ter the meet­ing. That prompted Ger­man left­ist EU law­maker Fabio de Masi to say the plans were “akin to a white­wash.” “It is grotesque that some EU mem­ber-states re­gard the ze­ro­tax cri­te­rion as be­ing too strict. Even the Ba­hamas are go­ing to be ex­empt from this,” he said in a note. The Euro­pean Com­mis­sion pub­lished an ini­tial list in Septem­ber, which named 81 coun­tries and ju­ris­dic­tions that have a higher chance of fa­cil­i­tat­ing tax avoid­ance and may be sub­ject to fur­ther screen­ing and even sanc­tions. Crit­ics fear the fi­nal list may be much shorter and ex­clude well­known tax havens. Hu­man rights group Ox­fam called for the blacklist to in­clude Switzer­land and some states within the Euro­pean Union that it iden­ti­fied as cor­po­rate tax havens, in­clud­ing “the Nether­lands, Bel­gium, Cyprus and Lux­em­bourg.”

Turkey ex­pects the first unit of its planned $20 bil­lion Akkuyu Nu­clear Power Plant, be­ing built in col­lab­o­ra­tion with Rus­sia, to be on­line by the end of 2023, En­ergy Min­is­ter Berat Al­bayrak said yes­ter­day.

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