3-13-18 8:46 AM EDT | Email Article
   By Marc Navarro Gonzalez 

The European Council said Tuesday that it has updated its list of non-cooperative jurisdictions in taxation matters, adding three names to its list of countries and jurisdictions that fall short of European Union standards on tax avoidance and evasion.

The Council said that it has identified tax transparency deficiencies in the U.S. Virgin Islands, Bahamas and Saint Kitts and Nevis, and blacklisted them after they failed to commit to reform their tax policies to address EU concerns.

At the same time, the Council said that Bahrain, the Marshall Islands and Saint Lucia have been removed from the list, which was last published on December.

"I am glad to see more jurisdictions that we listed in December committing themselves to reforming their tax policies in a manner that will remedy our concerns," said Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency.

By publishing the list of non-cooperative jurisdictions, the Council aims to promote good governance in taxation worldwide and preventing tax avoidance, tax fraud and tax evasion. On the current list are: American Samoa, Bahamas, Guam, Namibia, Palau, Samoa, Saint Kitts and Nevis, Trinidad and Tobago and the U.S. Virgin Islands.


Write to Marc Navarro Gonzalez at marc.navarro@dowjones.com


(END) Dow Jones Newswires

March 13, 2018 08:46 ET (12:46 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Add a Comment

Try Premium Membership today. Your first 14 days are free of charge. Start my Premium Membership Trial.
Sponsored Links
Buy a Link Now
Sponsor Center
Content Partners