Dominica removed from the EU list of non-cooperative jurisdictions for tax purposes

by: - June 17, 2019
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Succeeding changes to tax rules to comply with European Union (EU) requirement to reduce the risks of tax evasion, Dominica has been removed from the EU list of non-cooperative jurisdictions for tax purposes.

This was officially revealed by the council on June 14, 2019.

In a memo, the general secretariat of the Council of the European Union noted that it is removing the island from the list following its dedication to the Organization for Economic Cooperation and Development’s Multilateral Convention on Mutual Administrative Assistance.

“Dominica has implemented its commitments and addressed EU concerns as regards automatic exchange of financial information. More specifically, Dominica completed the necessary steps to sign and ratify the OECD multilateral convention on mutual administrative assistance. This step warrants Dominica’s removal from the EU’s list of non-cooperative jurisdictions” the EU stated.

In April, Prime Minister Skerrit told Parliament that Dominica did not want an apology from Europe over the blacklisting saying “all we want is to remove our name from the blacklist because we have done everything and we have gone beyond what was required by the international community”.

The list was established in December 2017 and is contained in annex I of the conclusions adopted by the Council. It was revised in March 2019, following an in-depth review of the implementation of the commitments taken by third country jurisdictions that are part of the process.

As a result, 11 jurisdictions remain on the of non-cooperative jurisdictions. These countries include American Samoa, Belize, Fiji, Guam, Marshall Islands, Oman, Samoa, Trinidad and Tobago, United Arab Emirates, US Virgin Islands and Vanuatu.