EU reduces tax haven black list

On 10 October 2019, the Council of the European Union (“EU”) found the United Arab Emirates, Albania, Costa Rica, Serbia, Switzerland and Mauritius compliant with all its commitments and removed them from the EU list completely. The Marshall Islands moved from the black list to the grey list (Link).

As a result, nine jurisdictions remain on the list of non-cooperative jurisdictions: American Samoa, Belize, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, the US Virgin Islands and Vanuatu.

The EU information website contains further information on the list’s objectives and on how the list has evolved (Link).

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