The European Union has updated the so-called gray list of tax jurisdictions: it includes Russia, the British Virgin Islands, the Marshall Islands and Costa Rica, according to the EU Council website.
“The Council regrets that these jurisdictions are not cooperating on tax issues and encourages them to strengthen their legal framework to address the problems identified,” the message reads.
Now the list contains 16 positions, mainly the classic offshore companies (Bahamas, Panama, Vanuatu, etc.) are represented. Several countries left the “grey list”: North Macedonia, Barbados, Jamaica and Uruguay. Countries including Hong Kong, Malaysia and Qatar have been granted deferrals to address shortcomings.
The claims against Russia are related to the amendments to the legislation adopted in 2022, which regulate the regime of special administrative regions (there are two of them in Russia – in Primorye and in the Kaliningrad region). The EU Council also noted that the dialogue with Russia on tax law issues “has reached a dead end” in the context of the situation in Ukraine.
The gray list was first released in December 2017. The next review is scheduled for October 2023.
Author:
anastasia mariana
Source: RB
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