EU: Updates to list of non-cooperative jurisdictions
The Council of the European Union adopted conclusions on the list of non-cooperative jurisdictions.
Conclusions on list of non-cooperative jurisdictions adopted
The Council of the European Union today adopted conclusions on the list of non-cooperative jurisdictions.
The Council agreed to move Anguilla, the Bahamas, and Turks and Caicos Islands from Annex II (the so-called “grey list”) to Annex I (the so-called “blacklist”).
Following this latest revision, the EU blacklist now consists of the following 12 jurisdictions: American Samoa, Anguilla, the Bahamas, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, Turks and Caicos Islands, the U.S. Virgin Islands, and Vanuatu.
In addition, Armenia and Eswatini were added to the grey list following their commitments to amend or abolish preferential tax regimes, while Bermuda and Tunisia were removed from the grey list, having fulfilled their commitments in relation to the implementation of substance requirements and country-by-country (CbC) exchange relationships, respectively.
As a result, the EU grey list now consists of the following 22 jurisdictions: Armenia, Barbados, Belize, Botswana, the British Virgin Islands, Costa Rica, Dominica, Eswatini, Hong Kong, Israel, Jamaica, Jordan, Malaysia, Montserrat, North Macedonia, Qatar, Seychelles, Thailand, Turkey, Uruguay, Russian Federation, and Vietnam.
Read an October 2022 report prepared by KPMG's EU Tax Centre
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