Six takeaways from my EU blacklist article

Ultimate aim for information exchange seems to be implementation of CRS, CBCR, rulings exchange, and exchange on request

  • Dates and periods are vague, but in general grey listed jurisdictions have been given an extra year to comply

  • There are various ‘escapes’ e.g. satisfy 2 out of 3 transparency requirements, or exchange arrangements limited to EU Member States

  • No/low tax jurisdictions are expected to comply with more than just economic substance

  • Ongoing monitoring process with yearly revisions – but could be more frequent and/or retrospective

  • No obligation on EU Member States to take defensive measures

Shedding light on the EU’s blacklist, Tax Notes International, January 1, 2018

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