On December 5, 2017, the EU published it’s blacklist of non-cooperative tax jurisdictions (tax havens).
1. American Samoa
American Samoa does not apply any automatic exchange of financial information, has not signed and ratified, including through the jurisdiction they are dependent on, the OECD Multilateral Convention on Mutual Administrative Assistance as amended, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
2. Bahrain
Bahrain does not cover all EU Member States for the purpose of automatic exchange of information, has not signed and ratified the OECD Multilateral Convention on Mutual Administrative Assistance as amended, facilitates offshore structures and arrangements aimed at attracting profits without real economic substance, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
3. Barbados
Barbados has a harmful preferential tax regime and did not clearly commit to amending or abolishing it as requested by 31 December 2018.
Barbados’ commitment to amend or abolish other harmful tax regimes in line with criterion 2.1 will be monitored.
4. Grenada
Grenada has not signed and ratified the OECD Multilateral Convention on Mutual Administrative Assistance as amended and did not clearly commit to addressing these issues by 31 December 2018.
Grenada’s commitment to comply with criteria 1.1, 2.1 and 3 will be monitored.
5. Guam
Guam does not apply any automatic exchange of financial information, has not signed and ratified, including through the jurisdiction they are dependent on, the OECD Multilateral Convention on Mutual Administrative Assistance as amended, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
6. Korea (Republic of)
Korea has harmful preferential tax regimes and did not commit to amending or abolishing them by 31 December 2018.
7. Macao SAR
Macao SAR has not signed and ratified, including through the jurisdiction they are dependent on, the OECD Multilateral Convention on Mutual Administrative Assistance as amended and did not commit to addressing these issues by 31 December 2018.
Macao SAR’s commitment to comply with criteria 1.1 and 2.1 will be monitored.
8. Marshall Islands
Marshall Islands facilitates offshore structures and arrangements aimed at attracting profits without real economic substance, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
Marshal Islands’ commitment to comply with criteria 1.1 and 1.2 will be monitored.
9. Mongolia
Mongolia is not a member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, has not signed and ratified the OECD Multilateral Convention on Mutual Administrative Assistance as amended, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2019.
10. Namibia
Namibia is not a Member of the Global Forum on Transparency and Exchange of Information for Tax Purposes, has not signed and ratified the OECD Multilateral Convention on Mutual Administrative Assistance as amended, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2019. Furthermore, Namibia has harmful preferential tax regimes and did not commit to amending or abolishing them by 31 December 2018.
11. Palau
Palau facilitates offshore structures and arrangements aimed at attracting profits without real economic substance and refused to engage in a meaningful dialogue to ascertain its compliance of with criterion 2.2.
Palau’s commitment to comply with criteria 1.1, 1.2, 1.3 and 3 will be monitored.
The following jurisdictions are committed to implement automatic exchange of information by 2018:
Curaçao, Hong Kong SAR, New Caledonia, Oman, Qatar and Taiwan
12. Panama
Panama has a harmful preferential tax regime and did not clearly commit to amending or abolishing it as requested by 31 December 2018.
Panama’s commitment to amend or abolish other harmful tax regimes in line with criterion 2.1 will be monitored.
13. Saint Lucia
Saint Lucia has harmful preferential tax regimes, does not apply the BEPS minimum standards and did not clearly commit to addressing these issues by 31 December 2018.
14. Samoa
Samoa has harmful preferential tax regimes, does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
15. Trinidad and Tobago
Trinidad and Tobago has been attributed a rating of “Non Compliant” by the Global Forum on Transparency and Exchange of Information for Tax Purposes, has not signed and ratified the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters as amended, has a harmful preferential tax regime and did not commit to addressing these issues by 31 December 2018.
Trinidad and Tobago’s commitment to comply with criteria 1.1 and 3 will be monitored.
16. Tunisia
Tunisia has harmful preferential tax regimes and did not commit to amending or abolishing them by 31 December 2018.
Tunisia’s commitment to comply with criterion 3 will be monitored.
17. United Arab Emirates
The United Arab Emirates does not apply the BEPS minimum standards and did not commit to addressing these issues by 31 December 2018.
United Arab Emirates’ commitment to comply with criteria 1.1 and 1.3 will be monitored.
Fair Taxation
The following jurisdictions are committed to amend or abolish the identified regimes by 2018:
Andorra, Armenia, Aruba, Belize, Botswana, Cabo Verde, Cook Islands, Curacao, Fiji, Hong Kong SAR, Jordan, Liechtenstein, Maldives, Mauritius, Morocco, Saint Vincent and the Grenadines, San Marino, Seychelles, Switzerland, Taiwan, Thailand, Turkey, Uruguay and Vietnam.
The following jurisdictions have not explicitly reiterated the commitment taken at the FHTP to amend or abolish the identified regimes by 2018:
Malaysia and Labuan Island.
The following jurisdictions are committed to addressing the concerns relating to economic substance by 2018:
Bermuda, Cayman Islands, Guernsey, Isle of Man, Jersey and Vanuatu.
Transparency
The following jurisdictions are committed to implement automatic exchange of information by 2018:
Curaçao, Hong Kong SAR, New Caledonia, Oman, Qatar and Taiwan.
The following jurisdictions are committed to implement automatic exchange of information by 2019:
Turkey.
The following jurisdictions are committed to become member of the Global Forum and/or have a satisfactory rating by 2018:
Curaçao, New Caledonia and Oman.
The following jurisdictions are committed to become member of the Global Forum and/or have a sufficient rating by 2019:
Bosnia and Herzegovina, Cabo Verde, Fiji, Jordan, Montenegro, Serbia, Swaziland, Turkey and Vietnam.
The following jurisdictions are committed to sign and ratify the MAC or to have in place a network of agreements covering all EU Member States by 2018:
Hong Kong SAR, New Caledonia, Oman, Qatar and Taiwan.
The following jurisdictions are committed to sign and ratify the MAC or to have in place a network of agreements covering all EU Member States by 2019:
Armenia, Bosnia and Herzegovina, Botswana, Cabo Verde, Fiji, Former Yugoslav Republic of Macedonia, Jamaica, Jordan, Maldives, Montenegro, Morocco, Peru, Serbia, Swaziland, Thailand, Turkey and Vietnam.