On 5 December 2017, the Economic and Financial Affairs Council (ECOFIN) determined a list of 17 non-cooperative jurisdictions, i.e. the EU black list.
This list was established based on three (screening) criteria: tax transparency, fair taxation (no harmful tax regimes) and implementation of BEPS minimum standards. The Netherlands, Belgium, Luxembourg and Switzerland are not included in this black list. The ECOFIN recommends that (but does not oblige) the Member States apply tax sanctions towards the listed jurisdictions. The EU may apply non-tax sanctions.
Read more about the EU black list and the sanctions.
We will keep you informed of any further developments. Please contact your trusted adviser at Loyens & Loeff in case you have any queries.
Compliments of Loyens & Loeff, a member of the EACCNY