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BRUSSELS, Belgium The European Union on Monday adopted conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes, deciding to add
Taxation: Council adds Dominica to the EU list of non-cooperative jurisdictions and removes Barbados
The Council today adopted conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes, deciding to add Dominica to the EU list of non-cooperative jurisdictions (Annex I of the conclusions) and to remove Barbados from that list.
The list includes jurisdictions worldwide that either have not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement the reforms necessary to comply with a set of objective tax good governance criteria. These criteria relate to tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.
February 23, 2021
The European Union on Monday took Barbados off its blacklist of non-cooperative tax jurisdictions, triggering celebrations in Bridgetown’s international business community.
But in a twist of fate that continues to engulf the Caribbean in a saga of charge and counter-charge over compliance, Dominica has been blacklisted just as Barbados has been removed from the list, according to the Council of the EU in a press statement.
Barbados was added to the list in October 2020 after it received a ‘partially compliant’ rating from the Global Forum. It has now been granted a supplementary review by the Global Forum and has therefore been moved to a state-of-play document (Annex II of the Council conclusions) pending the outcome of this review.