Update on the EU List of Non-Cooperative Jurisdictions for Tax Purposes
11 Oct 2024
The takeaway
What has changed?
On 8 October 2024, the Council of the European Union updated the EU list of non-cooperative jurisdictions for tax purposes (Annex I and Annex II). Antigua and Barbuda was removed from Annex I and included in Annex II.
Why is this relevant?
For arrangements involving companies from jurisdictions listed as non-cooperative for tax purposes, there may be reporting obligations in Romania according to DAC6 (reporting of cross-border arrangements) and country-by-country reporting rules.
What to consider?
Companies should review the updated list and consider the potential implications for transactions involving companies in the mentioned jurisdictions.
In detail
The EU list of non-cooperative jurisdictions for tax purposes is part of the EU’s effort to combat tax evasion and avoidance. The list comprises countries that have not fulfilled their commitments to comply with good tax governance criteria within a specified timeframe and those that have refused to do so.
Annex I (“blacklist”) includes:
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Annex II (“grey list”)
Annex II represents the list of jurisdictions that have not yet fully complied with all international tax standards but have committed to implementing reforms. These are:
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The Code of Conduct Group of the Council is responsible for evaluating jurisdictions’ adherence to global tax standards. If it is found that a jurisdiction does not sufficiently comply with international tax standards, maintain harmful tax practices or respond to the Group’s recommendations, it will recommend to the Council that the jurisdiction be included on the list.
The EU Council updates the list twice a year. The next review of the list is scheduled for February 2025.
[Source: Council of the European Union Press Release, 8 October 2024]
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