ARTICLE
15 March 2024

EU List Of Non-Cooperative Jurisdictions For Tax Purposes Has Been Updated

H
Harneys

Contributor

Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.

On 20 February 2024, the EU Council removed the Bahamas, Belize, Seychelles, and Turks and Caicos Islands from its list of non-cooperative tax jurisdictions...
European Union Tax

On 20 February 2024, the EU Council removed the Bahamas, Belize, Seychelles, and Turks and Caicos Islands from its list of non-cooperative tax jurisdictions, leaving 12 jurisdictions on the list.

The 12 jurisdictions:

  • American Samoa
  • Anguilla
  • Antigua and Barbuda
  • Fiji
  • Guam
  • Palau
  • Panama
  • Russia
  • Samoa
  • Trinidad and Tobago
  • US Virgin Islands
  • Vanuatu

The removal was due to improvements in tax governance or commitments to reforms. Jurisdictions are assessed based on tax transparency, fair taxation, and international standards. Belize and Seychelles were added to the list in 2023 due to deficiencies in exchange of information, but have been given a chance to rectify the issues.

The EU Council also recognises cooperative efforts by other jurisdictions. The list is updated twice a year and aims to promote global tax governance. The next revision of the list is scheduled for October 2024.

The EU Council works closely with international organisations like the OECD to monitor tax measures.

The official release can be found here.

More information on the EU Tax Blacklist is available here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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