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Cayman Islands, Palau, and Seychelles to be Added to EU Non-Cooperative Blacklist; Turkey to be Given More Time to Meet Commitments — Orbitax Tax News & Alerts

The Cayman Islands, Palau, and Seychelles are expected to be added to the EU blacklist of non-cooperative jurisdictions during a meeting of the EU finance ministers next week. The jurisdictions are currently listed in Annex II (the grey list), which includes jurisdictions that have made commitments to implement tax good governance principles. Because the three jurisdictions have not satisfied their commitments, they are to be moved to Annex I (the blacklist).

Turkey, however, which is also listed in Annex II, will reportedly be given more time to satisfy its commitments. The commitments are in regard to automatic exchange of information