During its meeting of October 2, 2018 the Economic and Financial Affairs (ECOFIN) Council again removed a jurisdiction from the EU list of non-cooperative jurisdictions for tax purposes. This time Palau was removed from the list.
According to the Council Palau has made commitments at a high political level to remedy EU concerns. EU experts have assessed those commitments. As a consequence, Palau was moved from annex I of the conclusions to annex II, which includes jurisdictions that have undertaken sufficient commitments to reform their tax policies. Implementation of its commitments will be carefully monitored by the Council working group responsible for the listing process ('code of conduct group').
As a result the following 6 jurisdictions remain on the list of non-cooperative jurisdictions:
· American Samoa;
· Trinidad and Tobago; and
· the US Virgin Islands.
During the same meeting the Council found that Liechtenstein and Peru have completed the necessary reforms to comply with all the tax good governance principlesi dentified at EU level and set out in the conclusions adopted by the Council in December 2017. As a consequence, the two countries will be removed from annex II of the conclusions.
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