Anguilla, Dominica, and Seychelles are now included in the state of play document (Annex II), which covers jurisdictions that do not yet comply with all international tax standards but that have committed to implementing tax good governance principles.
Council of the European Union has decided to remove Anguilla, Dominica, and Seychelles from the list of non-cooperative jurisdictions for tax purposes.
The three tax jurisdictions had previously been placed on the list because they did not meet the EU’s tax transparency criteria of being ranked as at least ‘largely compliant’ by the OECD Global Forum regarding the exchange of information on request. The delisting was preceded by the forum’s decision to grant these jurisdictions a supplementary review on this matter.
Pending the granted supplementary review, Anguilla, Dominica, and Seychelles are now included in the state of play document (Annex II), which covers jurisdictions that do not yet comply with all international tax standards but that have committed to implementing tax good governance principles.
Nine jurisdictions remain on the EU list of non-cooperative jurisdictions (Annex I): American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, and Vanuatu.
Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar, and Uruguay have also been added to this document, while Australia, Eswatini, and Maldives have implemented all the necessary tax reforms and have therefore been removed from it.
Following today’s revision, Turkey continues to be mentioned in Annex II.
Twice a year the Council revises its list of non-cooperative jurisdictions and an accompanying state of play document. This practice was established in 2017 to promote global good governance in taxation and inform member states on which non-EU jurisdictions engage in abusive tax practices.
The criteria for listing are in line with international tax standards and focus on tax transparency, fair taxation, and prevention of tax base erosion and profit shifting. The Council engages with the countries that do not meet these criteria, monitors their progress, and regularly reviews and updates this list.
The author is Alex Hunter, Editor, TP News. He oversees and updates the publication and also regularly writes news stories about transfer pricing and international tax law. Alex is reachable at editor@transferpricingnews.com