Tax haven list – new criterion introduced

An Executive Power Decree 589/2013, published in the Official Gazette of 30 May 2013 and in force from that date, amends the Regulatory Decree to the Income Tax Law (DRLIG) establishing a new criterion to define when a country or jurisdiction is considered a "low or nil-tax country" in order to trigger the application of specific provisions in the tax laws.

The former criterion was reflected in an exclusive list of 88 countries and jurisdictions in article 21(7) of the DRLIG, which is co…