The European Council on October 5 approved the removal of Anguilla, Dominica, and Seychelles from the EU’s list of non-cooperative jurisdictions for tax purposes, the so-called “black list.”
The jurisdictions now move to the EU’s “gray list,” which covers jurisdictions that do not yet comply with international tax standards but have committed to implementing them.
With the removal of the three jurisdictions, nine jurisdictions remain on the black list – a third of which are US territories. The current black list jurisdictions are American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, and Vanuatu.
The latest updates also add six new jurisdictions to the gray list: Costa Rica, Hong Kong, Malaysia, North Macedonia, Qatar, and Uruguay. Three countries also made it off the gray list: Australia, Eswatini, and the Maldives.
The European Council first issued the lists in 2017 to counter abusive tax practices, and it updates the lists twice a year. For listed countries, EU member states may adopt defensive measures to protect tax revenues from fraud and evasion.
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