The Council today decided to remove Dominica from the EU list of non-cooperative jurisdictions for tax purposes.
Dominica has implemented its commitments and addressed EU concerns as regards automatic exchange of financial information. More specifically, Dominica completed the necessary steps to sign and ratify the OECD multilateral convention on mutual administrative assistance. This step warrants Dominica’s removal from the EU’s list of non-cooperative jurisdictions.
As a result, 11 jurisdictions remain on the EU list of non-cooperative jurisdictions for tax purposes: American Samoa, Belize, Fiji, Guam, Marshall Islands, Oman, Samoa, Trinidad and Tobago, United Arab Emirates, US Virgin Islands and Vanuatu.
The EU list is contributing to on-going efforts to prevent tax avoidance and promote good governance principles such as tax transparency, fair taxation or international standards against tax base erosion and profit shifting.
The list was established in December 2017 and is contained in annex I of the conclusions adopted by the Council. It was revised in March 2019, following an in-depth review of the implementation of the commitments taken by third country jurisdictions that are part of the process.
The work on the EU list of non-cooperative jurisdictions is a dynamic process. The Council will continue to regularly review and update the list in 2019, while it plans to move towards a bi-annually review as of 2020.