The EU Code of Conduct Group (Business Taxation) has published letters sent to six jurisdictions in relation to the EU list of non-cooperative jurisdictions for tax purposes. The letters, dated 1 February 2019, concern changes in harmful preferential tax regimes in Barbados, Belize, Curaçao, Mauritius, Saint Lucia, and Seychelles. Each letter generally thanks the respective jurisdiction for their cooperation thus far and goes on to state that changes the jurisdictions have made are not sufficient or that the new regimes that the jurisdictions have introduced to replace prior harmful regimes are also considered harmful and further changes are needed.
With respect to the list of non-cooperative jurisdictions, the six jurisdictions were grey-listed, instead of black-listed, based on commitments made to amend their harmful regimes. If commitments to further changes are not made, the jurisdictions risk being black-listed. The Code of Conduct Group has requested that further changes be made by the end of 2019, with no grandfathering.
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