European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 14, 2017. REUTERS/Francois Lenoir

BRUSSELS (Reuters) – European Union finance ministers will decide on Tuesday on the composition of an EU blacklist of tax havens that now includes about 20 jurisdictions but could end up with far fewer names after political horse-trading.
Following multiple disclosures of offshore tax avoidance schemes by companies and wealthy individuals, EU states launched a process in February to list tax havens in a bid to discourage setting up shell structures abroad which are themselves in many cases legal but could hide illicit activities.
After almost a year of screening 92 jurisdictions seen as possible tax havens, EU experts have prepared a draft blacklist of those falling short of EU standards on tax transparency and cooperation.
The list contains “about 20” jurisdictions, a senior EU official said on Friday, adding that the number might be reduced when finance ministers meet on Tuesday in Brussels as some EU governments could oppose …