EU Council revises its EU list of non-cooperative jurisdictions

/

On February 18, 2020, the European Council revised its list of non-cooperative EU jurisdictions. In addition to the 8 jurisdictions that have already been listed, the EU has also decided to include the following jurisdictions in its list of non-cooperating tax jurisdictions:

  • Cayman Islands;

  • Palau

  • Panama;

  • Seychelles.

So the complete list is as follows:

  • American Samoa

  • Cayman islands

  • Fiji

  • Guam

  • Oman

  • Palau

  • Panama

  • Samoa

  • Seychelles

  • Trinidad and Tobago

  • US Virgin Islands

  • Vanuatu.

The Council also in a separate appendix highlighted countries with incomplete circumstances. He extended the time frame for the opportunity to carry out the necessary reforms to fulfill his obligations. Most extensions extend to developing countries without a financial center that has already made significant progress in meeting their obligations. This list includes:

  • Anguilla

  • Australia

  • Bosnia and Herzegovina

  • Botswana

  • Eswatini

  • Jordan

  • Maldives

  • Mongolia

  • Namibia

  • Morocco

  • Saint Lucia

  • Thailand

  • Turkey.

16 jurisdictions were able to implement all the necessary reforms in order to comply with the principles of good EU tax administration ahead of schedule:

  • Antigua and Barbuda

  • Armenia

  • Bahamas

  • Barbados

  • Belize

  • Bermuda

  • The British Virgin Islands

  • Cape Verde

  • Cook Islands

  • Curacao

  • Marshall Islands

  • Montenegro

  • Nauru

  • Niue

  • Saint Kitts and Nevis

  • Vietnam.

“The work on the list of non-cooperative tax jurisdictions is based on a thorough process of assessment, monitoring and dialogue with about 70 third country jurisdictions. Since we started this exercise, 49 countries have implemented the necessary tax reforms to comply with the EU's criteria. This is an undeniable success. But it is also work in progress and a dynamic process where our methodology and criteria are constantly reviewed. ”

Zdravko Marić, Croatian Deputy Prime Minister and Minister of finance

As for the Federation of Saint Kitts and Nevis, it is one of 16 jurisdictions that “managed to implement all the necessary reforms to comply with the principles of good tax administration in the EU ahead of schedule.”

The Federation of Saint Kitts and Nevis is one of 16 jurisdictions that “managed to implement all the necessary reforms to comply with the principles of good tax administration in the EU ahead of schedule and therefore are excluded from Appendix II” (better known as “gray”). list "). Annex II describes the state of cooperation with the EU regarding obligations undertaken by cooperative jurisdictions to implement the principles of tax good governance. This means that the Federation of Saint Kitts and Nevis has been completely removed from the EU list.

Learn more about St. Kitts and Nevis CIP

The list of non-cooperative tax jurisdictions, which is part of the EU external taxation strategy defined by the Council, is intended to contribute to ongoing efforts to promote tax good governance worldwide. Thus, Saint Kitts and Nevis are no longer on the EU list.

This list includes jurisdictions that either did not enter into a constructive dialogue with the EU on tax administration issues or failed to fulfill their obligations to implement reforms in a timely manner in accordance with EU criteria.

Follow us:

Instagram | Facebook | LinkedIn | Twitter | Telegram | YouTube