Marinela Petrova, Bulgarian Deputy Minister for Finance (left); Vladislav Goranov, Bulgarian Minister for Finance (right). Photo: European Union
The EU's list of non-cooperative jurisdictions in taxation matters has been adjusted in the light of:
- commitments made by listed jurisdictions;
- an assessment of jurisdictions for which no listing decision had yet been taken.
Moves have also been made to improve transparency in the listing process.
On 13 March 2018, the Council removed Bahrain, the Marshall Islands and Saint Lucia from the list and added the Bahamas, Saint Kitts and Nevis and the US Virgin Islands.
The EU's list is intended to promote good governance in taxation worldwide, maximising efforts to prevent tax avoidance, tax fraud and tax evasion. It was prepared during 2017 in parallel with work within the OECD.
“I am glad to see more jurisdictions that we listed in December committing themselves to reforming their tax policies in a manner that will remedy our concerns",
said Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency.
“We call on all jurisdictions on the list to do likewise, and on all those that have already made commitments to implement them in a timely manner. Our aim is to achieve optimal tax transparency worldwide”,
Read the full press release here.
Visit the meeting the page on the website of the Council of the European Union.