How do EU blacklisted tax havens work?

[BritishSecret]

Can someone explain in simple terms how an EU blacklisted tax haven affects people running tax structures and businesses in the EU, and does the EU blacklist apply to the UK now they've left the EU as well?

They describe them as non-cooperative jurisdictions for tax purposes, but what does that actually mean in real world terms? Do they just not report?

 

[JackAlabama]

Can someone explain in simple terms how an EU blacklisted tax haven affects people running tax structures and businesses in the EU, and does the EU blacklist apply to the UK now they've left the EU as well?

They describe them as non-cooperative jurisdictions for tax purposes, but what does that actually mean in real world terms? Do they just not report?

That depends largely on the country and what you do. some banks dont process wires, invoices cant be deducted as expenses, its residency is not supported by banks.

 

[BritishSecret]

So if you want to send money then you have to be strategic and use other bank accounts that are still within Europe but don't blacklist those countries right? e.g. all the non EU ones like Andorra and Liechtenstein etc.

 

[JackAlabama]

So if you want to send money then you have to be strategic and use other bank accounts that are still within Europe but don't blacklist those countries right? e.g. all the non EU ones like Andorra and Liechtenstein etc.

yah but this depends, some banks work some might not. You gotta try it as also correspondence banks can block stuff.
Best you use Bitcoin or Usdt for sending money than the dinosoaur banks.

 

[BritishSecret]

yah but this depends, some banks work some might not. You gotta try it as also correspondence banks can block stuff.
Best you use Bitcoin or Usdt for sending money than the dinosoaur banks.

So the journey would go (roughly)
LLC in EU country
buy crypto with LLC
sell crypto
put sold crypto money into blacklisted bank account
right?
Also, what's the best crypto to use? I assume something very private? (e.g not USDT and Bitcoin) or is it ultimately safer to use those two?