On December 5, 2017 the Economic and Financial Affairs Council (ECOFIN) adopted an EU list of non-cooperative jurisdictions for tax purposes. The list included 17 jurisdictions which the ECOFIN considered non-cooperative jurisdictions for tax purposes. Just over a month later on January 23, 2018 the ECOFIN already decided to remove 8 of these 17 jurisdictions from the list of non-cooperative jurisdictions for tax purposes. These 8 jurisdictions are moved to a separate category of jurisdictions subject to close monitoring.
The 8 jurisdictions from which the ECOFIN decided on January 23, 2018 that they should be removed from the list of non-cooperative jurisdictions for tax purposes and that should be moved to a separate category of jurisdictions subject to close monitoring are: Barbados, Grenada, the Republic of Korea, Macao SAR, Mongolia, Panama, Tunisia and the United Arab Emirates.
According to ECOFIN a delisting was justified in the light of an expert assessment of the commitments made by these jurisdictions to address deficiencies identified by the EU. According to ECOFIN in each case, the commitments were backed by letters signed at a high political level.
Consequently as per January 23, 2018 the list of non-cooperative jurisdictions for tax purposes consists out of the following 9 jurisdictions: American Samoa, Bahrain, Guam, Marshall Islands, Namibia, Palau, Saint Lucia, Samoa and Trinidad and Tobago.
More information on the background of the decision can be found in a Note from the General Secretariat of the Council to the Permanent Representatives Committee/Council. Click here to be forwarded to this Note.
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