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EU tweaks list of non-cooperative jurisdictions in taxation matters

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EU tweaks list of non-cooperative jurisdictions in taxation matters

The Council of the European Union announced changes to the list of jurisdictions that do not promote good governance in taxation worldwide, removing Bahrain, the Marshall Islands and Saint Lucia from the list in light of the commitments at a high political level to address the EU's concerns.

Concurrently, the council added the Bahamas, Saint Kitts and Nevis and the U.S. Virgin Islands to the list as they failed to make commitments at a high political level. Meanwhile, Anguilla, Antigua and Barbuda, the British Virgin Islands and Dominica made commitments to address deficiencies identified by the EU and are being monitored for implementation.

The list is intended to maximize efforts to prevent tax avoidance, tax fraud and tax evasion.

A commitment at a high political level is being sought from Caribbean jurisdiction the Turks and Caicos Islands by March 31 to address EU concerns.