Council removes Cayman Islands and Oman from EU list of non-cooperative tax jurisdictions, adds Anguilla and Barbados
The Council has adopted conclusions revising the EU list of non-cooperative jurisdictions for tax purposes, removing the Cayman Islands and Oman in light of them having passed the necessary reforms to improve their tax policy framework. The list was first established in 2017 and its most recent substantial revision took place in February 2020.
Specifically, the Cayman Islands adopted reforms to its framework on Collective Investment Funds, while Oman enacted legislation to enable automatic exchange of information and took steps to activate its exchange-of-information relationships with all EU Member States.
The Council, however, added Anguilla and Barbados to the list, following peer review reports published by the Global Forum on Transparency and Exchange of Information for Tax Purposes. Those reports downgraded the ratings of Anguilla and Barbados, respectively, to ‘non-compliant’ and ‘partially compliant’ with the international standard on transparency and exchange of information on request (EOIR).
Twelve jurisdictions remain in the EU list of non-cooperative jurisdictions for tax purposes:
- American Samoa;
- Trinidad and Tobago;
- US Virgin Islands; and