The European Council has revised its list of non-cooperative jurisdictions and added Dominica to it.
The move comes after the recently released ratings by the OECD Global Forum for Transparency and Exchange of Information.
Dominica received a “partially compliant” rating from the Global Forum and the EU requires jurisdictions to be at least “largely compliant” with the international standard on transparency and data exchanges on request.
The Council said: “The list includes jurisdictions worldwide that either have not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement the reforms necessary to comply with a set of objective tax good governance criteria.
“These criteria relate to tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.”
Other countries
At the same time, the Council removed Barbados from the list after adding the country in October 2020.
It was first put on it because, like Dominica, it received a “partially complaint” rating from the Global Forum, but it has since been granted a supplementary review by the OECD and moved to a “state-of-play document”, pending the review’s outcome.
Jamaica joins Barbados on the document after its commitment to “amend or abolish its harmful tax regime”, also known as special economic zone regime, by the end of 2022.
But Morocco, Namibia, and Saint Lucia have been taken off the document as they have “fulfilled all their commitments”, the Council added.
Australia and Jordan have been granted an extension to implement their commitment, while Turkey was requested to resolve the issues regarding its exchange of information with all EU member states.
