Antigua, Barbuda removed from EU's tax haven blacklist
Beach - Photo © haveseen - Fotolia
(LUXEMBOURG) - EU states agreed Tuesday to remove Antigua and Barbuda from the EU's list of 'non-cooperative jurisdictions for tax purposes', part of its efforts to 'promote tax transparency and fair taxation globally'.
The update takes the number of countries on the EU list (Annex I) to 11: American Samoa, Anguilla, Fiji, Guam, Palau, Panama, the Russian Federation, Samoa, Trinidad & Tobago, US Virgin Islands, and Vanuatu.
At the same time, 9 jurisdictions now feature in Annex II of the EU list, based on commitments they have taken to improve their tax good governance. The Commission says it will closely monitor these commitments to make sure they are followed up on.
The main objective of the EU list is to encourage jurisdictions to implement tax good governance standards to tackle tax fraud, evasion, and avoidance worldwide. It is based on a thorough process of screening, assessment, and monitoring according to objective, clear and internationally recognised criteria (tax transparency, fair taxation, implementation of the anti-BEPS minimum standards).
The Commission stresses that the EU listing process provides a 'framework for dialogue, outreach and cooperation between the EU and international partners on important tax issues'. The unprecedented engagement has, it says, led to many jurisdictions taking major steps to stop harmful tax practices and improve global tax transparency.
As part of the EU listing process, the Commission provides comprehensive support to third countries in strengthening their tools against tax abuse, as well as technical assistance to those that need it.
The EU executive is also working with EU Member States to further strengthen the EU listing criteria to ensure greater tax transparency and fair and effective taxation. Work towards more coordination on tax defensive measures against listed jurisdictions also continues.
The EU list is updated twice a year, to reflect changes in jurisdictions' tax policies and cooperation levels. This ensures that the list remains relevant and accurate over time.
Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes
Code of Conduct Group report to the Council on the update of the EU list