The European Union has put Macedonia on the black list of countries that have unacceptable tax policies that harm the European market. The list mainly includes countries from the Caribbean islands such as Dominica and Panama, known as “tax havens” – places where money of dubious origin is hidden.
According to a statement from the European Council, Macedonia is blacklisted alongside Costa Rica, Hong Kong, Malaysia, Qatar and Uruguay. The Council gives Macedonia until the end of 2022 to change its tax model to bring it in line with the European Union system. If not, Macedonia is threatened with economic sanctions and penalties – such as cutting access to certain funds of the European Union.