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EU to remove Seychelles, Anguilla and Dominica from tax blacklist

19 Oct
EU to remove Seychelles, Anguilla and Dominica from tax blacklist Advocate Cyprus CYWORLD WEALTH

EU to remove Seychelles, Anguilla and Dominica from tax blacklist

EU to remove Seychelles, Anguilla and Dominica from tax blacklist

The European Union has agreed to remove Anguilla, Dominica and the Seychelles from its blacklist of tax havens.

Recall that all three were previously included in the list because they did not meet the EU tax transparency standards.

The delisting was preceded by the forum’s decision to provide these jurisdictions with additional scrutiny on this matter.

The Council revises its list of jurisdictions that do not cooperate twice a year. This practice emerged in 2017 to promote global good governance in taxation and to warn member countries that non-EU jurisdictions are abusing tax practices. They can then take protective measures to protect their tax revenues and fight tax fraud, tax evasion and other tax fraud.

Listing criteria are in line with international tax standards and are focused on tax transparency, fair taxation and prevention of tax base erosion and profit shifting. The Council interacts with countries that do not meet these requirements, monitors their progress, evaluates and updates this list on a regular basis.

The above is for informative purposes only.  Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.

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