The EU has updated its list of non-cooperative jurisdictions for tax to add a number of countries including Russia, Bermuda, BVI and Israel, to Annex II.
While Annex I lists those non-EU countries that encourage abusive tax practices which erode Member States’ corporate tax revenues, Annex II lists those jurisdictions that do not yet comply with all international tax standards but have committed to reform.
The EU Council also announced that various jurisdictions including Guam, Palau, Panama and Samoa, would remain on its Annex I list.
The EU has updated its list of non-cooperative jurisdictions for tax to add a number of countries including Russia, Bermuda, BVI and Israel, to Annex II.
While Annex I lists those non-EU countries that encourage abusive tax practices which erode Member States’ corporate tax revenues, Annex II lists those jurisdictions that do not yet comply with all international tax standards but have committed to reform.
The EU Council also announced that various jurisdictions including Guam, Palau, Panama and Samoa, would remain on its Annex I list.
