ARTICLE
10 October 2018

Removal Of Palau From EU List Of Non-Cooperative Tax Jurisdictions

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Elias Neocleous & Co LLC

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Elias Neocleous & Co LLC is the largest law firm in Cyprus and a leading firm in the South-East Mediterranean region, with a network of offices across Cyprus (Limassol, Nicosia, Paphos), Belgium (Brussels), Czech Republic (Prague), Romania (Budapest) and Ukraine (Kiev). A dynamic team of lawyers and legal experts deliver strategic legal solutions to clients operating in key industries across Europe, Asia, the Middle East, India, USA, South America, and China. The firm is renowned for its expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, while also managing the largest and most challenging cross-border assignments. It is a premier practice of choice for leading Cypriot banks and financial institutions, preeminent foreign commercial and development banks, multinational corporations, global technology firms, international law firms, private equity funds, credit agencies, and asset managers.
On 2 October 2018 the committee of European Union finance ministers agreed to remove the Pacific island of Palau from the EU list of non-cooperative tax jurisdictions not meeting required standards of transparency and good practice.
Worldwide Tax

On 2 October 2018 the committee of European Union finance ministers agreed to remove the Pacific island of Palau from the EU list of non-cooperative tax jurisdictions not meeting required standards of transparency and good practice. When it was issued in December 2017 the EU blacklist included 17 jurisdictions, but several have been removed after giving formal commitments to rectify their deficiencies.

Following the removal of Palau, six jurisdictions remain on the blacklist, namely American Samoa, Guam, Namibia, Samoa, Trinidad and Tobago and the US Virgin Islands.

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