Changes to EU List of Non-Cooperative Jurisdictions

The Council of the European Union has made adjustments to its list of non-cooperative jurisdictions for tax purposes. The Bahamas, Belize, Seychelles, and Turks and Caicos Islands have been removed from the list, leaving 12 jurisdictions remaining.

Those remaining on the list include American Samoa, Anguilla, Antigua and Barbuda, Fiji, Guam, Palau, Panama, Russia, Samoa, Trinidad and Tobago, US Virgin Islands, and Vanuatu. The Council emphasizes that these jurisdictions still need to enhance their cooperation on tax matters and urges them to improve their legal frameworks to address the identified issues.

The EU list of non-cooperative tax jurisdictions aims to hold countries accountable for their tax governance practices. It is regularly updated to monitor progress and adherence to tax good governance criteria, including tax transparency and fair taxation.

The removal of the Bahamas and Turks and Caicos Islands follows an assessment by the OECD Forum of Harmful Tax Practices, which found improvements in the enforcement of economic substance requirements. Belize and Seychelles were initially listed due to deficiencies in information exchange, but they have since made changes and will undergo further review by the OECD Global Forum.

In addition to the list, the Council also approved a state of play document highlighting ongoing cooperation between the EU and its international partners. Albania and Hong Kong have fulfilled their commitments to amend harmful tax regimes and will be removed from the document. Aruba and Israel have addressed pending commitments related to financial account information exchange. Botswana and Dominica received positive ratings from the Global Forum regarding information exchange, resulting in their removal from the relevant section of the document.

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