Under recent measures the EU has made changes to its tax cooperation lists, removing the United Arab Emirates and the Marshall Islands from the tax haven blacklist, and transferring Albania, Costa Rica, Mauritius, Serbia and Switzerland to its whitelist of fully cooperative territories.

This reduces the number of countries on the blacklist to nine (from fifteen just six months ago) being:

Belize, Trinidad and Tobago, American Samoa, the US Virgin Islands, Guam, Oman, Fiji, Samoa and Vanuatu.

A further five territories including the Bahamas, British Virgin Islands, the Cayman Islands, Barbados and Bermuda, remain on the EU ‘grey’ list because the EU is not happy with their rules on economic substance. They have a chance to move to the whitelist if they implement legislative changes by the end of the year.

External links:

Council of the EU press release

 

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