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EU Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes. As of 27 February 2020 (date of publication in the Official Journal), the EU list is composed of:
Trinidad and Tobago,
US Virgin Islands,
Jurisdictions that do not yet comply with all international tax standards but have committed to reform are included in a state of play document (Annex II). Once a jurisdiction meets all of its commitments, it is removed from the annex.
The EU list of non-cooperative jurisdictions for tax purposes helps EU member states deal more robustly with countries that encourage abusive tax practices. The aim is not to name and shame countries, but to encourage positive change through cooperation. The listing of countries is based on a continuous and dynamic process of:
1) establishing criteria in line with international tax standards,
2) screening countries against these criteria,
3) engaging with countries which do not comply,
4) listing and de-listing countries as they make commitments or take action to comply,
5) monitoring developments to ensure that jurisdictions do not backtrack on previous reforms.
The EU aims to enable fair and effective corporate taxation in the single market. Given the global nature of tax competition and aggressive tax planning, this also means addressing external challenges to EU countries’ tax bases. The EU is working to improve tax governance on a global level. It is doing this to clamp down on:
a) tax fraud or evasion,
b) tax avoidance,
c) money laundering.
The EU list is part of the EU’s external strategy for effective taxation. By identifying at EU level the countries which enable abusive tax practices, member states can act together to exert pressure for reform. The list also helps them coordinate defensive measures in taxation.
Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes (27.02.2020)
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