Council of the European Union publishes list of non-cooperative jurisdictions for tax purposes
Published: 05 December 2017
On 5 December 2017, the Council of the European Union (EU) published an EU list of 17 non-cooperative jurisdictions in taxation matters which has been also referred to as the black list. The intention of the Council is to promote good governance worldwide, prevent tax fraud and tax evasion. The document published also includes annexures with lists of screened jurisdictions that have committed to improve and address issues identified under the headings of transparency, fair taxation, and anti - base erosion measures.
The list does not include any fund jurisdictions. Some of the typical fund jurisdictions identified in the separate lists in the annexures have stated their commitment to develop a fair tax system by the end of 2018. The document recognises these commitments as meaningful and calls for monitoring procedures to track developments and prepare a report by summer 2018. The listing process is intended to be repeated each year.
The 17 jurisdictions featured on the list have been strongly encouraged to make changes to their tax legislation, policies, and administrative practices. Jurisdictions not complying with the council’s request may see defensive measures from the EU.
For further information, please contact Paul Hale.