The European Council’s decided on 14 February 2023, to revise and update the EU list of non – cooperative jurisdictions for tax purposes by including the following countries Russia, Costa Rica, British Virgin Islands and Marshall Islands as the jurisdictions that need further improvement in implementation of international standards in taxation.
The list is part of the EU’s external strategy on taxation and aims to contribute to ongoing efforts to promote tax good governance worldwide.
Following these additions, the EU list now consists of 16 jurisdictions:
American Samoa, Costa Rica, Palau, Trinidad and Tobago, Anguilla, Fiji, Panama, Turks and Caicos Islands, Bahamas, Guam, Russia, US Virgin Islands, British Virgin Islands, Marshall Islands, Samoa, Vanuatu
Effectively, the jurisdictions enlisted have not managed to engage in a constructive dialogue with the EU on tax governance or failed to deliver on their commitments to implement specific reforms, covering tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.
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