On 5th Dec 2017, The European Union announced the blacklist of 17 countries for non-cooperative tax havens for failing to meet the tax governance standards. The list is part of the EU’s work to clamp down on tax evasion and avoidance. The list is updated once a year.
- Does the country have harmful tax practices or regimes? Does it apply anti-BEPS measures?
- Does the country’s tax rate encourage artificial tax structures?
- Does the jurisdiction comply with the international standards on information exchange?
EU List of Non-Cooperative Tax Jurisdictions:
- American Samoa,
- Bahrain,
- Barbados,
- Grenada,
- Guam,
- Korea (Republic of),
- Macao SAR,
- Marshall Islands,
- Mongolia,
- Namibia,
- Palau,
- Panama,
- Saint Lucia,
- Samoa,
- Trinidad and Tobago,
- Tunisia and
- United Arab Emirates.
These 8 jurisdictions (Antigua and Barbuda, Anguilla, Bahamas, British Virgin Islands, Dominica, St Kitts and Nevis, Turks and Caicos, US Virgin Islands) that were badly hit by the hurricanes in summer 2017 have been given until early 2018 to respond to the EU’s concerns.
Read more: here