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New countries added in the EU list of non-cooperative jurisdictions for tax purposes

Updated: Feb 8

The EU has added the British Virgin Islands, Costa Rica, the Marshall Islands, and Russia to its list of non-cooperative tax jurisdictions.

The EU Council added the British Virgin Islands, Costa Rica, Marshall Islands, and Russia to the list of non-cooperative tax jurisdictions on the 14th February 2023. This comes after our previous alert regarding the introduction of withholding taxes (WHT) on payments to companies in jurisdictions included on the EU list of non-cooperative tax jurisdictions.

The list is part of the EU's external taxation strategy and intends to contribute to continuing global efforts to improve tax good governance.

As a result of these additions, the EU list now comprises of  sixteen jurisdictions:

  • American Samoa

  • Anguilla

  • Bahamas

  • British Virgin Islands

  • Costa Rica

  • Fiji

  • Guam

  • Marshall Islands

  • Palau

  • Panama

  • Russia

  • Samoa

  • Trinidad and Tobago

  • Turks and Caicos Islands

  • US Virgin Islands

  • Vanuatu

Effectively, the listed jurisdictions have failed to engage in a constructive dialogue with the EU on tax governance or to fulfil their commitments to implement specific reforms, including tax transparency, fair taxation, and the implementation of international standards designed to prevent tax base erosion and profit shifting.

The next list revision is anticipated in October 2023.

*DISCLAIMER: This article and its publication are intended to provide a brief introduction and act as a general guide. This is provided for information purposes only and cannot be utilized as a substitute for professional advice. This document does not represent a legal opinion and one must not rely on it without receiving independent advice based on the particular facts of its own case. No responsibility is accepted by the author or the publishers for any loss suffered from acting or refraining from acting based on the contents of this publication.

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