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- 23.11.2021European Parliament Adopts Country-By-Country Tax Reporting Directive
- 11.11.2021Updated Recommendations on Monitoring of Virtual Assets and Virtual Asset Service Providers Published
- 03.11.2021Ukraine Has Approved the Procedure for Preliminary Approval of Transfer Pricing
- 29.10.2021FATF Recommendation on Beneficial Ownership Information Revised
«EU Black List»: recent changes
As we recall, the list of non- cooperative jurisdictions in the EU (the EU list of non-cooperative jurisdictions for tax purposes) is reviewed on a regular basis, since 2020 it is to be updated twice a year. In October came through the following revision of the «blacklist» and on the EU Council website it is already possible to find a press release according to which such changes have been made:
The Cayman Islands and Oman were removed from the list because they had undertaken the necessary reforms and revised their tax policies to adapt to global trends.
For example, in the Cayman Islands, reforms were adopted in September 2020 regarding collective investment funds.
Oman ratified the Convention on Mutual Administrative Assistance in Tax Matters (OECD Convention on Mutual Administrative Assistance in Tax Matters). Oman has also moved into an active phase of preparation for the automatic exchange of information – namely, it has enacted relevant laws and adopted measures that will ensure automatic exchange with all EU member countries in the near future.
Barbados and Anguilla, on the other hand, are new tax-non-cooperating jurisdictions.
The Global Forum on Transparency and Exchange of Information for Tax Purposes, according to which these jurisdictions are described as «non-compliant» and «partially compliant» with international standards of transparency and information exchange (EOIR).
The current «EU black list»:
- American Samoa
- Panama City
- Trinidad and Tobago
- United States Virgin Islands