EU to Amend the Black List" of Non-cooperative Jurisdictions
The EU Council decided to add Anguilla and Barbados to the list of jurisdictions not cooperating with the European Union in the field of taxation. At the same time, the Cayman Islands and Oman were removed from the list following reforms of their tax policies.
According to the report, Anguilla and Barbados were included in the EU list after peer reviews published by the Global Forum on Transparency and Information Exchange for Tax Purposes. In these reviews, Anguilla and Barbados have been downgraded to “non-compliant” and “partially compliant”, respectively, under the international standard for transparency and exchange of information on demand (EOIR).
The Cayman Islands were delisted by the EU after the structure of collective investment funds was changed in September 2020.
According to the Council of the EU, Oman is adhering to all of its obligations since it ratified the OECD Convention on Mutual Administrative Assistance in Tax Matters, adopted legislation to ensure automatic exchange of information and took all necessary steps to intensify its information exchange relations with all EU countries.
Following this update, 12 jurisdictions remain on the list of non-cooperating jurisdictions: American Samoa, Anguilla, Barbados, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, US Virgin Islands and Vanuatu.