European Union: EU's Tax Compliance Watchlist: New Additions And Recent Shifts

On 17 of October 2023, EU Members States updated their list of non-cooperative jurisdictions for tax purposes by including three new jurisdictions under Annex I of their list: Antigua and Barbuda, Belize, and Seychelles. Jurisdictions in Annex I are those that have not yet met the standards of good governance, nor fulfilled their commitment to tax compliance standards, as assessed by the Global Forum on tax transparency and exchange of information. British Virgin Islands and Costa Rica have now moved to Annex II of the EU list based on their commitment to improve their legal framework towards compliance with international tax standards, a process that is under the constant radar of the EU. The following two tables illustrate the EU's current list of jurisdictions, reflecting the most recent updates:

As the EU keeps a close eye on the tax compliance progress of these jurisdictions, the global landscape continues to evolve towards greater adherence to tax regulations. This includes the addition of more jurisdictions on the list, particularly third countries that urgently need to implement robust measures against tax evasion.

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