COCG: Assessment of Cooperative Jurisdictions
Following the recent update to the list of non-cooperative jurisdictions for tax purposes, as per the Code of Conduct Group (COCG) on Business Taxation’s program from February 2024, efforts to refine the list with specific assessment criteria will continue. The next steps include:
During the COCG meeting on November 22, 2023, a proposal was discussed regarding monitoring the implementation of protective measures in the tax sphere. Work will proceed based on this discussion, aiming to evaluate the effectiveness of EU member states’ application of tax protective measures concerning jurisdictions on the “blacklist” according to the approved 2019 Guidance (refer to Annex 4).
Consideration is underway to introduce a new criterion 1.4 regarding beneficial ownership as the fourth criterion for tax transparency (potentially utilizing AML/Global Forum on Transparency lists).
Preparation for future monitoring of compliance with criteria 1.1 and 1.2 following expected changes in the expert assessment process of information exchange (Automatic Exchange of Information – AEOI and Exchange of Information on Request – EOIR) by the Global Forum from 2025 onwards.
Preparation for an assessment in the second half of 2024 under criterion 3.2 on country-by-country reporting (CbCR) by relevant jurisdictions that joined the BEPS Inclusive Framework after December 31, 2017.
Possible scrutiny of trusts and similar structures in jurisdictions with low or zero corporate tax rates in close collaboration with the Harmful Tax Practices Forum (FHTP).
Assessment of three new non-EU jurisdictions: Brunei Darussalam, Kuwait, and New Zealand.
Evaluation of compliance with the rules of the OECD’s GloBE Inclusive Framework BEPS, after the implementation of its second component (Pillar 2), for the purpose of criterion 2.2 on fair taxation.
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