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EU: List of non-cooperative tax jurisdictions updated (“blacklist”)

EU: List of non-cooperative tax jurisdictions updated

EU Finance Ministers have updated the list of non-cooperative tax jurisdictions, and have “black listed” 15 countries. Three jurisdictions have been moved to the “grey list.”

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The list is based on EC concerns about tax transparency, good governance, real economic activity, and the existence of a zero corporate tax rate.

As noted today in an EC release, 15 countries or jurisdictions are on the blacklist:

  • Five have made no commitments—American Samoa, Guam, Samoa, Trinidad and Tobago, and the U.S. Virgin Islands.
  • Three were moved from the “grey list” to the blacklist—Barbados, United Arab Emirates and Marshall Islands.
  • Seven countries were also moved from the grey list to the blacklist—Aruba, Belize, Bermuda, Fiji, Oman, Vanuatu, and Dominica.
  • Another 34 countries will continue to be monitored in 2019 (grey list), while 25 countries from the original screening process have now been cleared.

The EU Member States have agreed on a set of counter-measures that may be applied against the listed countries, including increased monitoring and audits, withholding taxes, special documentation requirements, and anti-abuse provisions. 
 

Read “questions and answers” on the EU list of non-cooperative tax jurisdictions.
 

Read a March 2019 report prepared by KPMG’s EU Tax Centre

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