Russia joins nine new jurisdictions on EU tax regime grey list

The European Union has added 10 jurisdictions to its so-called grey list of non-cooperative tax regimes in its council's update on 24 February. 

The new Annex II list sees the Bahamas, Belize, Bermuda, British Virgin Islands (BVI), Israel, Montserrat, Russia, Tunisia, Turks and Caicos and Vietnam all come board for closer scrutiny.  

The jurisdictions already listed on Annex II are Anguilla, Barbados, Bermuda, Botswana, Costa Rica, Dominica, Hong Kong, Jamaica, Jordan, Malaysia, North Macedonia, Qatar, Seychelles, Thailand, Turkey and Uruguay.

Annex I, the so-called black list of the EU List, remained unchanged and it still includes American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu.

EU Member States' finance ministers said it would continue to review and update the EU List biannually, with the next update due in October 2022.