EU placed Macedonia on a black list for tax policy violations

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The European Council placed Macedonia on a black list for non-cooperative jurisdictions in the area of tax policy.

Macedonia was rebuked along with Costa Rica, Hong Kong, Malaysia, Qatar and Uruguay, and has until 2022 to make the necessary changes to close its tax system for abuse, money laundering and other violations. Failure to comply will cost Macedonia access to a number of funding mechanisms of the EU.

According to the Council, in September Macedonia made assurances that it will make the necessary adjustements.