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The Organisation for Economic Cooperation and Development (OECD) has erased Belgium from its tax haven “grey list”, according to a list published on 24 July. The Belgian finance minister announced on 16 July this year that Belgium had fulfilled the requirements to be taken off of the grey list, and was thus able to sign a minimum of twelve agreements to share information with other countries.
Belgium followed the lead of its neighbour Luxembourg, which left the OECD grey list earlier this year. Last Thursday, Switzerland announced that it was moving towards departure from the grey list as well, having signed its twelfth tax information exchange agreement. However, the Swiss finance minister explained that the agreement has to be formally validated by the OECD, and this could take between three to five months.
The OECD published the grey list on 2 April this year in the wake of the G20 summit to put pressure on tax havens, threatening them with sanctions if they do not start exchanging tax information.
La Dernière Heure/Expatica