Cooks, Niue, Marshalls and Nauru on financial blacklist
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Four Pacific nations have been placed on a French blacklist of countries considered to have inadequate taxation and fiscal standards.
The four are Cook Islands, Niue, Marshall Islands and Nauru.
PacNews says it means that any French organisation carrying out financial transactions with the blacklisted countries will face huge tax levies.
In a document signed by the French finance minister it states that dividends, service fees, royalties, and interest paid by a French entity to a beneficiary in a blacklisted country will be faced with 50 per cent tax.
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