The EU list of non-cooperative jurisdictions will be further changed based on recent efforts by some countries in the list and latest assessment of the Code of Conduct Group, following the last revision this January to remove eight countries. This list is supposed to be agreed by the Ministers on their monthly meeting in Brussel on March 13, 2018.
Delisted and Grey Listed Countries
The countries to be delisted from the alleged blacklist are Bahrain, the Marshall Islands and Saint Lucia. These countries should make “specific commitments” to adapt their tax rules and practices to EU standards in order to be moved to the “grey list”, but details of the commitments are not released. Countries in the grey list with undertakings to make changes could be moved back to the blacklist if they fail to do so. "I am glad to see more jurisdictions that we listed in December committing themselves to reforming their tax policies in a manner that will remedy our concerns," said Vladislav Goranov, minister for finance of Bulgaria.
Bahamas, the US Virgin Islands and St Kitts and Nevis are to be added to the list now, making nine countries on the blacklist in total. Countries remaining on the list could face more restrictive financial control from the EU.
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):