The Council adopted the conclusions on the EU list of non-cooperative jurisdictions for tax purposes.
The objective of the list is to contribute to the EU’s efforts to promote tax good governance worldwide. It includes the jurisdictions that have not engaged in a constructive dialogue with the EU on tax governance or that have failed to deliver on their commitments to implement timely the necessary reforms to comply with the EU’s criteria.
Cayman Islands, Palau, Panama and Seychelles were added to the revised list of non-cooperative jurisdictions for tax purposes.
Bermuda, along with other 15 jurisdictions (Antigua and Barbuda, Armenia, Bahamas, Barbados, Belize, British Virgin Islands, Cabo Verde, Cook Islands, Curaçao, Marshall Islands, Montenegro, Nauru, Niue, Saint Kitts and Nevis, Vietnam), managed to implement all the necessary reforms to comply with EU tax good governance principles ahead of the agreed deadline and was therefore removed from Annex II (the “grey list”).
Going forward the Council will continue to update the list twice a year and provide guidance to the Member States on further coordination of national defensive measures in the tax area towards non-cooperative jurisdictions.