On October 5, 2021, during its ECOFIN meeting the Council of the EU decided to remove Anguilla, Dominica and Seychelles from the EU list of non-cooperative jurisdictions for tax purposes. All three 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. As a result, nine jurisdictions remain on the EU list of non-cooperative jurisdictions: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.
Pending the granted supplementary review Uruguay, Anguilla, Dominica and Seychelles were put on the State of play of the cooperation with the EU with respect to commitments taken by cooperative jurisdictions to implement tax good governance principles.
Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar and Uruguay have also been added to this State of play of the cooperation with the EU with respect to commitments taken by cooperative jurisdictions to implement tax good governance principles. These jurisdictions, which committed to amend or abolish their harmful foreign-source income exemption regimes, were granted until December 31, 2022 to adapt their legislation:
Australia, Eswantini and Maldives have implemented all the necessary tax reforms and have therefore been removed from State of play of the cooperation with the EU with respect to commitments taken by cooperative jurisdictions to implement tax good governance principles.
· The Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes
Copyright – internationaltaxplaza.info
