The European Union has excluded two countries from the blacklist of offshore

The United Arab Emirates and the Marshall Islands are excluded from the list of jurisdictions with which the EU is not cooperating in the sphere of taxation

On 10 October the Council of Europe expelled the United Arab Emirates (UAE) and the Marshall Islands from the list of tax jurisdictions that violate the criteria of transparency of doing business. This is stated in the press release of the organization, reports the with reference to League.

It is noted that the UAE has fulfilled all its 2018 commitment, and the Marshall Islands are transferred from the “black” list to the “gray” and will be monitored by the group on the code of conduct of the Council of Europe pending the results of the review by the OECD Global forum on transparency and exchange of information.

The report also says that Albania, Costa Rica, Mauritius, Serbia and Switzerland “ahead of schedule has carried out all necessary reforms to meet the principles of good tax administration of the EU.” These countries are excluded from the “gray” list of offshore zones.

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In the “black list” of tax jurisdictions remain nine countries: American Samoa, Belize, Fiji, GUAM, Oman, Samoa, Trinidad and Tobago, United States virgin Islands and Vanuatu.

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