Antigua and Barbuda, Belize and Seychelles Added to the EU List of Non-Cooperative Jurisdictions for Tax Purposes

On October 17, 2023, the European Council resolved to add Antigua and Barbuda, Belize and Seychelles to the EU list of non-cooperative jurisdictions for tax purposes.

In addition, at the same time, the British Virgin Islands, Costa Rica and Marshall Islands were removed from the EU list of non-cooperative jurisdictions for tax purposes.

Now the EU Blacklist consists of 16 jurisdictions which are; American Samoa, Antigua and Barbuda, Anguilla, Bahamas, Belize, Fiji, Guam, Palau, Panama, Russia, Samoa, Seychelles, Trinidad and Tobago, Turks and Caicos Islands, US Virgin Islands, and Vanuatu.

Jurisdictions are assessed on the basis of a set of criteria laid down by the EU Council. These criteria cover tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.

The EU list of non-cooperative jurisdictions for tax purposes is part of the EU’s external strategy on taxation and aims to contribute to ongoing efforts to promote tax good governance worldwide.

Payment of dividends, interest and royalties from companies in EU countries to the EU-blacklisted jurisdictions are subject to withholding tax. In the case of Cyprus, withholding tax of 17% on dividends, 30% on interests, and 10% on royalties are applicable on payments to EU-blacklisted jurisdictions.

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