| Author (Corporate) | Council of the European Union |
|---|---|
| Publisher | General Secretariat of the Council |
| Series Title | Press Release |
| Publication Date | 18/02/2020 |
| Content Type | News |
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Summary: The Council of the European Union adopted on 18 February 2020 an update to the European Union's list of non-cooperative tax jurisdictions. Further information: In addition to the eight jurisdictions that already featured on the list, the Council decided to include the Cayman Islands, Palau, Panama and the Seychelles in its list of non-cooperative tax jurisdictions. These jurisdictions did not implement the tax reforms to which they had committed by the agreed deadline. Most commitments taken by third country jurisdictions were with a deadline of end 2019, whilst their enactment in national law was carefully monitored at technical level by the Code of Conduct Group on business taxation until the beginning of 2020. The Council adopted the revised EU list of non-cooperative jurisdictions resulting from this exercise and endorsed a revised state of play with respect to pending commitments. The list was originally set up to promote good governance in taxation worldwide. It aims to contribute to efforts on prevention of tax avoidance and tax fraud. The initial list was published in December 2017 and partially updated on several occasions thereafter. While the list is revised once a year, the so-called Code of Conduct Group - featuring representatives of the European Commission and of the EU Member States - can recommend an update at any time. |
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| Source Link | Link to Main Source https://www.consilium.europa.eu/en/press/press-releases/2020/02/18/taxation-council-revises-its-eu-list-of-non-cooperative-jurisdictions/ |
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| Subject Categories | Taxation |
| Subject Tags | Fiscal Regimes |
| Keywords | Tax Avoidance | Fraud | Evasion |
| Countries / Regions | Palau, Panama, Seychelles, United Kingdom |
| International Organisations | European Union [EU] |
