EU To Create List Of Non-Cooperative Tax Jurisdictions
The European Commission has confirmed plans to draw up a pan-EU list of non-cooperative tax jurisdictions.
In announcing the plans on September 15, the Commission released “a pre-assessment of all third countries according to key indicators.” The intention is to create a common EU list of non-cooperative tax jurisdictions by the end of 2017.
The list will replace the current patchwork of national “black lists,” which are intended to punish those non-EU countries that refuse to comply with international tax good governance standards. An EU list will also prevent aggressive tax planners from abusing mismatches between the different national systems of member states, the Commission said.
It is now for EU member states to choose which countries should be screened more fully over the next months to accurately pinpoint those which do not follow international tax transparency standards, the Commission said.
The EU will work closely with the Organisation for Economic Cooperation and Development (OECD) during the listing process, and will take into account the OECD’s assessment of each jurisdictions transparency standards.
Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation, and Customs, said: “The EU takes its international tax good governance commitments seriously. It is reasonable for us to expect the same from our international partners. We want to have fair and open discussions with our partners on tax issues that concern us all in the global community. The EU list will be our tool to deal with third countries that refuse to play fair.”
Source: Tax News