The ECOFIN Council decided to further amend the non-cooperative list by removing Namibia from the 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.
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.
Council working group (‘code of conduct group’) will carefully monitor the implementation of Namibia’s commitments.
One of TPA’s technology partners Cygnet Infotech has developed a comprehensive VAT solution named R7VAT MTD, which is amongst others recently approved by HMRC for use by companies in the UK to automate and manage their VAT returns filing process but can also be used broadly within the EU.
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