On 12 October 2021, the Official Journal of the EU published the Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes, otherwise also known as the EU tax havens blacklist. The plan includes five key areas for action, including item 4, "Further Progress on Tax Transparency". The overview table below will show the current state of implementation of all committed jurisdictions in a single table. This Convention was originally proposed by the OECD and the Council of Europe in 1988 and updated via a protocol in 2010. . Jurisdictions that make a high-level commitment to comply with the required criteria within an The EU has been working on a list of non-cooperative jurisdictions for tax purposes since 2016. Maldives has been given four additional months to .

In low-tax jurisdictions the exemption applies when the company held has business activities. Four distinct ratings can be allocated to a jurisdiction once it has undergone a full peer review: Compliant: The EOIR standard is implemented. (OECD) Forum on Harmful Tax Practices is pending . 4 The said Communication aims to ensure that EU external . In addition to this list, the Council approved the usual state . Also, in December 2017, to "encourage fair competition," the European Union adopted a list of " non-cooperative jurisdictions" largely based on the implementation of OECD/ G20 BEPS minimum standards, tax transparency standards, and "fair taxation" criteria (summarized in subsequent sections of this chapter). Any removal of jurisdictions from the list will take effect under the new law in Luxembourg as from the date of publication of the updated EU List in the EU Official Journal. Those that fall short are asked for a commitment to address deficiencies within a set deadline. See EY Global Tax Alert, Council of the European Union publishes list of uncooperative jurisdictions for tax purposes, dated 6 December 2017. The Global Forum carries on peer reviews to assess the standard of exchange of information on request (EOIR) and rates the jurisdictions' compliance. Money laundering: concealment of origins of illegally obtained money. On 5 October 2021, the Council of the European Union (the Council) updated the European Union (EU) list of non-cooperative jurisdictions for tax purposes (the EU List). While Cayman finalised its legislation earlier this year to regulate private investment funds and updated the Mutual Funds Law to complete the regulatory framework covering other collective investment vehicles, the EU determined that it failed to implement measures relating to economic substance in the . Annex I (the so-called "black" list) of the EU List now includes American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands . De-listings from . The government of the Hong Kong Special . Panama was included on the EU list of non-cooperative jurisdictions for tax purposes by the Council on 18 February 2020 and remains on the list because of the Council's conclusions made on 22 February 2021. . The Council adopted conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes, deciding to maintain the following countries on the list: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu. The EU list of non-cooperative jurisdictions for tax purposes. American Samoa is among the 17 countries and territories now listed on the European Union's "blacklist" of "non-cooperative tax jurisdiction," according to the EU's list publicly released yesterday which also includes neighboring Samoa and Guam. See EY Global Tax Alert, European Commission adopts first counter-measures on listed non-cooperative tax jurisdictions, dated 22 March 2018. Tax defensive measures implemented by European states against non-cooperative jurisdictions. Out of the ninety-two jurisdictions initially chosen for screening, seventeen . On 24 February 2022, the Council of the European Union (the Council) updated the European Union (EU) list of non-cooperative jurisdictions for tax purposes (the EU List). In case you would like to have more . Between 2000 and April 2002, 31 jurisdictions made formal commitments to implement the OECD's standards of transparency and exchange of information. Capital gains derived from the disposal of shares by a Norwegian Limited company or EEA resident are exempt. On 22 February 2021, the Council of the European Union (the Council) updated the European Union (EU) list of non-cooperative jurisdictions for tax purposes (the EU List).

The list of non-cooperative tax jurisdictions is determined at EU level. Applying the objective criteria set out by the OECD (compliance with the respect to the exchange of information on request, commitment to implement the automatic exchange of information standard, and participation in the multilateral convention on mutual . 4. Numerous legislators make an effort to maintain lists of territories that, either by allowing the avoidance of taxes or by facilitating the opacity of investments, qualify as "non cooperative jurisdiction"4. Applying the objective criteria set out by the OECD (namely compliance with respect to the exchange of information on request, commitment to implement the automatic exchange of information standard, and participation in the multilateral convention on . Having acted in good faith, Belize now finds itself unfairly and erroneously labelled by the European Union as a "non-cooperative tax jurisdiction", via a process that contrasts starkly with the OECD's inclusive and consultative methodology. 6 Following this update, twelve jurisdictions remain on the list of non-cooperative jurisdictions: American Samoa, Anguilla, Barbados, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the US Virgin Islands and Vanuatu. The Global Forum on Transparency and Exchange of Information for Tax Purposes released on 28 June its list of non-cooperative jurisdictions.. On 5 December 2017, the European Union (EU) Member States agreed on a list of non-cooperative jurisdictions for tax purposes. The European Commission has also adopted the first countermeasures on listed non-cooperative tax jurisdictions by the adoption of a Communication in March 2018 that sets new requirements against tax avoidance in EU legislation governing, in particular, financing and investment operations.

Learn more. The focus is on: transparency. However, the list has also become relevant to the disclosure of cross-border tax planning arrangements under DAC 6.

For shares in non-EEA countries there is a 10%- and 2-years holding requirement. On 5 October 2021, the Council of the EU revised the EU list of non-cooperative jurisdictions for tax purposes ('Annex I') and the list of jurisdictions included in the state of play document covering jurisdictions which have made commitments to implement tax good governance principles but do not currently comply with all international tax standards ('Annex II'). Members of the European Parliament (MEPs) adopted a resolution on October 21, 2021 calling the EU list of non-cooperative jurisdictions a "blunt instrument" and requesting a reform in terms List of Unco-operative Tax Havens. by Julie Martin At the G20's behest, the OECD has identified objective criteria for determining if a country is "non-cooperative" tax jurisdiction with respect to tax transparency, Pascal Saint-Amans, Director of the OECD Centre for Tax Policy and Administration, said during a July 12 OECD webinar. by the OECD in its list of non-cooperative jurisdictions in terms of transparency.and information3 exchange. A number of jurisdictions have been added to the blacklist for failing to satisfy, by 31 December 2018, what the EU bodies considered adequate in-country substance requirements in order for entities to qualify for their . CRS by jurisdiction. being placed on the EU Blacklist and labeled as a "non-cooperative . The list forms part of the EU's work to clamp down on tax evasion and avoidance, presenting a united front to dealing with non-EU jurisdictions that, in the EU's view, encourage abusive tax practices. Twelve countries are still on the list. Council conclusions, 24 February 2022 jurisdiction (2018/C 359/04) With effect from the day of publication in the . Jurisdictions on the EU grey list do not yet comply with all international tax standards but have made sufficient commitments to implement tax good governance principles, and continue to be monitored by the EU. As many of you may be aware, on 17 June, the EU Commission released its Comprehensive "Action Plan for Fair and Efficient Corporate Taxation in the EU". The European Union tax haven blacklist, officially the EU list of non-cooperative tax jurisdictions, is a tool of the European Union (EU) that lists tax havens.It is used by the Member States to tackle external risks of tax abuse and unfair tax competition.It was adopted for the first time in 2017 as a response to tax avoidance in the EU, screening 92 countries. fair taxation. #EuropeNews The EU list of non-cooperative tax jurisdictions is composed of countries that either failed to deliver on their commitments to comply with tax good governance criteria within a specific timeline, or have not committed to do so at all. 06 July 2015. What countries are on the updated EU list of non-cooperative tax jurisdictions, and why? As an immediate first step as part of this item, the Commission has released what is essentially a compilation of a pan-EU-wide list of third country non-cooperative tax jurisdictions, which is based on Member States' independent . . 2) The Global Forum on Transparency and Exchange of Information for Tax Purposes released on 28 June 2017 its list of non-cooperative jurisdictions. The EU list of non-cooperative jurisdictions for tax purposes was subsequently modified by the ECOFIN Council on 17 May 20199 and 14 June 201910, with the de-listing of Aruba, Barbados, Bermuda and Dominica. The criteria considered for including a jurisdiction on the list are based on recognised international tax standards. This follows Guernsey's recent inclusion on the European Commission's tax blacklist. non-cooperative tax jurisdictions to encompass 15 countries, including Bermuda, Barbados and the United Arab Emirates (UAE). Countries or jurisdictions with such serious strategic deficiencies that the FATF calls on its members and non-members to apply counter-measures. The following jurisdictions, which have not yet made commitments to transparency and effective exchange of information, have been identified by the OECD's Committee on Fiscal Affairs as unco-operative tax havens. The EU's Economic and Financial Affairs (Ecofin) Council updated the European Union's list of non-cooperative jurisdictions for tax purposes on March 12. The European Commission has also adopted the first countermeasures on listed non-cooperative tax jurisdictions by the adoption of a Communication in March 2018 that sets new requirements against tax avoidance in EU legislation governing, . Based on the Commission's screening, ministers blacklisted today 15 countries. Of those, 5 have On 18 February, EU finance ministers updated the EU list of non-cooperative tax jurisdictions. The list adopted by the Council on 24 February 2022 is composed of: American Samoa; Fiji; Guam; Palau; Panama; Samoa; Trinidad and Tobago; US Virgin Islands; Vanuatu; The list becomes official upon publication in the Official Journal. American Samoa American Samoa does not apply any automatic exchange of financial information, has not signed and ratified, including through the jurisdiction they are dependent on, the OECD Multilateral Convention on Mutual Administrative Assistance OECD's 'non-cooperative jurisdiction' criteria will allow US to escape blacklisting Monday, 25 July 2016 The Organisation for Economic Cooperation and Development has asked the G20 governments to approve its proposed three-step formula for deciding which international financial centres are to be blacklisted as non-cooperative. Annex I (the so-called "black" list) includes jurisdictions that fail to meet the EU's criteria by the required . The Council of the European Union announced on 5 October 2021 that it has decided to remove three jurisdictionsAnguilla, Dominica and Seychellesfrom the EU list of noncooperative jurisdictions for tax purposes (blacklist). Anguilla, Dominica and . jurisdictions that are to be listed or de-listed, it is highly advisable that the revised list is adopted as soon as possible so that the EU list of non-cooperative jurisdictions for tax purposes reflecting the current situation could be published in the Official Journal. Still on the list of non-cooperative jurisdictions are American Samoa, Anguilla, Barbados, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu, Seychelles. 1.1 (OECD Automatic Exchange of Information (AEOI) related to the Common Reporting Standard - CRS), the Council noted that the progress made by Turkey is still not fully in line with . The EU recently added 10 new jurisdictions to its "grey list" of non-cooperative tax jurisdictions. Criteria for Assessing International Tax Transparency Cooperation Three objective criteria have been established to identify cooperative and non-cooperative jurisdictions with respect to international tax transparency. Tax evasion and avoidance, which included discussions on the EU's list of non-cooperative jurisdictions, the progress of the Commission's Unshell Directive proposal, the application of withholding tax on outbound payments from the EU and the modernization of exchange of information provisions. The fight against harmful tax competition and aggressive tax planning has been high on the European Union (EU's) agenda in the past few years. Australia, Botswana, Eswatini, Jordan, Maldives, Morocco, Namibia, Saint Lucia, Thailand and Turkey. The latest update of the EU list of "non-cooperative jurisdictions" has exempted Seychelles, Anguilla and Dominica from being blacklisted. The European Union today updated its List of Non-cooperative Jurisdictions for Tax Purposes. In particular, inclusion of a jurisdiction on the EU list of non-cooperative jurisdictions will be relevant the question whether the category C hallmark arrangements apply (cross-border transactions). On 5 October 2021, the Council of the European Union (the Council) updated the European Union (EU) list of non-cooperative jurisdictions for tax purposes (the EU List). The next revision of the EU list of non-cooperative jurisdictions is scheduled for October 2022. Tax fraud, tax evasion, tax avoidance, and money . Executive summary. Poland: 100% Indeed the rushed EU process can be characterised as non-consultative, inflexible and insensitive . Official Journal of the European Union, Annexes I and II of the the Council conclusions of 5 December 2017 on the EU list of non-cooperative jurisdictions for tax purposes (1), as amended in January (2) and March (3) 2018, are replaced by the following new Annexes I . On 5 December 2017, the Council published a list of "Non-cooperative jurisdictions for tax purposes." This initial list was comprised of 17 jurisdictions that were deemed to have failed to meet relevant criteria established by the European Commission. (OECD) Forum on Harmful Tax Practices is pending. These countries still show some evidence of abusive tax practices. See EY Global Tax Alert, Council of the European Union publishes list of uncooperative jurisdictions for tax purposes, dated 6 December 2017. The EU list of non-cooperative jurisdictions was introduced by the EU as a tool to tackle: Tax fraud or evasion: illegal non-payment or under payment of tax; Tax avoidance: use of legal means to minimise tax liability; and. It is a result of a thorough screening and dialogue process with non-EU countries to assess them against agreed criteria for good governance relating to tax transparency, fair taxation, the implementation of OECD BEPS measures and substance requirements for zero-tax . The global tax police. On June 14, 2022, the OECD published the . (OECD). This list is part of the EU's work to fight tax evasion and avoidance and aims to create a stronger deterrent for countries that consistently refuse to play fair on tax matters. Annex I (the so-called "black" list) of the EU List now includes American Samoa, Anguilla, Dominica, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the . The document lists Hong Kong as one of nine countries with harmful tax regimes in its Annex II, the so-called grey list or watch list.

1 Since the . On 5 December 2017, the Council published the first EU list of non-cooperative jurisdictions for tax purposes, comprised of two annexes. The OECD Multilateral Convention on Mutual Administrative Assistance is the most . The EU list of non-cooperative jurisdictions, first adopted in the Council conclusions of December 5, 2017, is part of the EU's efforts to clamp down on tax avoidance and harmful tax practices. The "blacklist" has tripled in. Annex I (the so-called "black" list) of the EU List now includes American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu. EU list of non-cooperative jurisdictions Background The EU list of non-cooperative jurisdictions, first adopted in the Council conclusions of December 5, 2017, is part of the EU's efforts to clamp down on tax avoidance and harmful tax practices. This section will provide you with a jurisdiction-specific overview of the steps taken and choices made by jurisdictions in the context of implementing the Standard.