A news release from the EU Council on 10th October advised that the EU Council had agreed to remove the UAE and the Marshall Islands from the EU’s list of non-cooperative jurisdictions for tax purposes.
The list now comprises –
- American Samoa
- Belize
- Fiji
- Guam
- Oman
- Samoa
- Trinidad and Tobago
- US Virgin Islands
- Vanuatu
It also found Albania, Costa Rica, Mauritius, Serbia and Switzerland to be compliant with all commitments on tax co-operation. The UAE and the Marshall Islands have both passed the necessary reforms to implement the commitments they had made to improve by the end of 2018 their tax policy framework by introducing economic substance requirements. Albania, Costa Rica, Mauritius, Serbia and Switzerland have implemented ahead of their deadline all necessary reforms to comply with EU tax good governance principles, and will be removed from the “grey” list.
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