On 12 March 2019, the ECOFIN Council has adopted and published a revised EU list of third country 'non-c0operative jurisdictions in tax matters' (commonly referred to as the EU 'blacklist') and a revised EU list of third country 'co-operative jurisdictions subject to the successful delivery of their commitments' (commonly referred to as the EU 'greylist').
For background please refer to our prior Tax Update Newsletters N-17-2017, N-4-2018, N-11-2018, N-19-2018
As a result of the latest revision:
- Aruba, Barbados, Belize, Bermuda, Dominica, Fiji, Marshall Islands, Oman, United Arab Emirates and Vanuatu have been moved from the EU 'greylist' to the EU 'blacklist' due to non delivery on their respective commitments within the set deadlines.
- Bahrain, Faroe Islands, Greenland, Grenada, Guernsey, Hong Kong SAR, Isle of Man, Jamaica, Jersey, Korea (South), Labuan Island, Macao SAR, Malaysia, New Caledonia, Panama, Qatar, Saint Vincent and the Grenadines, Taiwan, Tunisia, Turks and Caicos Islands and Uruguay have been removed from the EU 'greylist' due to the successful delivery of their commitments.
- Australia and Costa Rica have been included in the EU 'greylist'.
For your ease of reference, click here for the latest revised lists.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.