Morocco has been removed from the list of non-cooperative countries and territories for tax purposes of the European Union, which has been updated and now includes the Commonwealth of Dominica.
The African country appeared in an annex (the ‘gray’ list) along with other “pernicious tax regimes” waiting for modify or rectify this situation. Namibia and Saint Lucia also no longer appear in this document, while Australia and Jordan have obtained an extension of the deadline for taking action.
Therefore, there are currently 12 tax havens – or, technically, non-cooperative countries and territories – in the eyes of the European Union: Anguilla, Dominica, Fiji, Guam, Palau, Panama, Samoa, American Samoa, Trinidad and Tobago, the Virgin Islands of the United States, Vanuatu and Seychelles.
The list includes “non-EU countries that encourage abusive tax practices,” the agency explains. These practices, they continue, “erode the corporate tax revenues of the Member States”.
The objective of making this list is “to promote a positive change in their legislation and fiscal practices through cooperation,” they say.
In addition, the countries and territories that, without complying with the rules, “have committed to implementing reforms” also appear in an annex. This was the case in Morocco and it continues to be the case in Australia, Barbados, Botswana, Eswatini, Jamaica, Jordan, Maldives, Thailand and Turkey.
The first list was published in December 2017 and is updated twice a year, so the next revision will take place in October 2021.
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