Thursday, February 25, 2021

The EU has changed the “black list” of offshore – news on UNN


KIEV. February 23. UNN. The Council of the European Union has changed the list of countries that do not comply with the obligations of tax cooperation. Reports about it UNN with reference to the press release of the EU Council meeting.

Details

The EU Council has therefore decided to add Dominica to the list of EU jurisdictions that do not comply with their tax cooperation obligations. Barbados offshore has been excluded from this “black list”.

The changes to the list take into account the ratings recently released by the OECD Global Forum on Transparency and Information Exchange. Dominica was included in the EU list because it received a “partially compliant” rating from the Global Forum and has not yet resolved the issue.

Barbados was added to the EU list in October 2020 after receiving a “partially compliant” rating from the Global Forum. It has now received an additional review by the Global Forum and has therefore been moved to the pending document of the results of this review.

READ ALSO: Britain ranks ratings of tax evasion countries

For reference

The list includes jurisdictions around the world that have either failed to engage in a constructive dialogue with the EU on tax governance or have failed to meet their commitments to implement the reforms needed to meet a number of objective criteria for good tax governance.

These criteria relate to tax transparency, fair taxation and the implementation of international standards aimed at preventing tax base erosion and profit shifting.



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