EU Upgrades BVI To Whitelist Status

BVI government welcomes whitelist status announcement. Blacklist expands to include 12 jurisdictions.

On 18 February 2020, EU Finance Ministers updated the EU list of non-cooperative tax jurisdictions, upgrading the British Virgin Islands to whitelist status, which designates the country as a fully co-operative tax jurisdiction in line with all of the tax good-governance standards. Four countries or territories were newly added to the list of non-cooperative tax jurisdictions, as they failed to comply with the required standards within the deadline, joining eight other blacklisted jurisdictions that remained non-compliant. Details of the EU list and the listing process is set out in the Common EU list of third country jurisdictions for tax purposes.