Namibia Removed From EU Non-Cooperative Jurisdictions List

; posted on
November 8th, 2018

The ECOFIN Council decided to further amend the non-cooperative list by removing Namibia from the list.

Current Non-Cooperative Jurisdiction List

Since the first EU blacklist was published in December 2017, it has already been revised five times. On January 23, 2018, eight jurisdictions were removed from the blacklist. Later, on March 13, 2018, the Council removed three more countries and added the Bahamas, Saint Kitts and Nevis and the US Virgin Islands. On May 25, 2018, the ECOFIN agreed to remove the Bahamas and Saint Kitts and Nevis, followed by Palau on October 2, 2018. And as the latest, On November 6, EU has taken off Namibia from the list.

Due to the latest revision, currently, the list is down to five non-cooperative jurisdictions: American Samoa, Guam, Samoa, Trinidad and Tobago and the US Virgin Islands, while a total of 65 jurisdictions are now actively cooperating with the EU in implementing tax good governance standards.

Namibia’s Sufficient Commitments

The decision to taken off Namibia from the list was driven by its sufficient commitments at a high political level to address EU concerns. Namibia commits to reform its tax system in order to comply with the EU screening criteria listed below.

  • Tax transparency and exchange of information: commitment to be a member of the Global Forum on transparency and exchange of information for tax purposes and satisfactory rating and to sign and ratify the OECD Multilateral Convention on Mutual Administrative Assistance or network of agreements covering all EU Member States by 2019. Compliance was assessed based on peer reviews in the OECD Global Forum on Transparency.
  • Fair tax competition: the existence of harmful tax regimes, assessed based on reviews by the OECD Forum on Harmful Tax Practices.
  • Anti-BEPS measures: implementation of the BEPS minimum standards measured according to OECD BEPS Inclusive Framework reviews.

Council working group (‘code of conduct group’) will carefully monitor the implementation of Namibia’s commitments.

Sources: European Council, Updated Non-Cooperative List

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