Russia amongst ten new non-cooperative tax jurisdictions on EU grey list, Turkey escapes black list

Russia and nine other countries have been added to the EU’s so-called grey list of non-cooperative jurisdictions for tax purposes.

Turkey meanwhile has escaped being put on the EU’s black list of countries that need to substantially reform their tax policies.

Grey list

Bahamas, Belize, Bermuda, British Virgin Islands, Israel, Montserrat, Tunisia, Turks and Caicos as well as Vietnam also now appear alongside Russia on the new Annex II list, commonly referred to as the grey list.

Anguilla, Barbados, Botswana, Costa Rica, Dominica, Hong Kong, Jamaica, Jordan, Malaysia, North Macedonia, Qatar, Seychelles, Thailand, Turkey and Uruguay were already on the grey list and remain on it.

Blacklisted jurisdictions

The so called black list of non-cooperative tax jurisdictions, officially known as Annex I of the EU list remains unchanged and includes American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.

The Council of the European Union which updates the EU list of non-cooperative jurisdictions for tax purposes said it “regrets” that these jurisdictions remain non-cooperative and invites them to engage with the Code of Conduct Group for Business Taxation to resolve the issues identified.

Turkey escapes

Escaping the black list and remaining on Annex II is Turkey, despite failing to take measures as requested by the EU and repeatedly missing deadlines to start tax information exchanges with EU member states.

Turkey was warned in February 2021 by EU ministers that it would be blacklisted if it failed to take measures as requested by the mutually agreed deadlines.

 



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