The European Union has updated its list of non-cooperative jurisdictions for tax purposes. Vietnam and the Turks and Caicos Islands have been added to the blacklist after the OECD review revealed they fail to meet necessary standards for the exchange of information on request. Conversely, Fiji, Samoa, and Trinidad and Tobago have been removed from the list as they have now complied with all agreed international standards. The 'grey list' was also updated, including Belize, the British Virgin Islands, Brunei, Eswatini, Greenland, Jordan, Montenegro, Morocco, and Turkey. Being on these lists does not imply economic sanctions beyond a ban on EU funds transiting through entities in these jurisdictions and more frequent audits. The next update is scheduled for October.
EU Updates Tax Haven Blacklist
The EU has added Vietnam and the Turks and Caicos Islands to its tax haven blacklist and updated the grey list, while Fiji, Samoa, and Trinidad and Tobago were removed for meeting standards.
