Caribbean Countries Blacklisted by EU for Non-Cooperative Tax Jurisdictions
- Trinidad &Tobago, Aruba, Bermuda, Belize, Dominica, Barbados, and US Virgin Islands featured on the European Union’s latest blacklist for tax abuse and unfair tax competition globally.
- In terms of consequences, EU Member States have agreed on a set of countermeasures, which they can choose to apply against the listed countries, including increased monitoring and audits, withholding taxes, special documentation requirements, and anti-abuse provisions.
- In addition, new provisions in EU legislation prohibit EU funds from being channeled or transited through entities in countries on the tax blacklist.
(Source: European Commission)