ÀÏ˾»úÎçÒ¹¸£Àû

Home/ Corporation Tax / EU adds Anguilla, the Bahamas and the Turks and Caicos Islands to list of non-cooperative jurisdictions
Tax News

EU adds Anguilla, the Bahamas and the Turks and Caicos Islands to list of non-cooperative jurisdictions

Published on: 05 October 2022
Published by a

Specialist Tax Regulatory Materials

Article summary

The EU Council has placed Anguilla, The Bahamas and the Turks and Caicos Islands on the EU list of non-cooperative jurisdictions for tax purposes (Annex I) over concerns that these jurisdictions, which all have a zero or nominal only rate of corporate income tax, are attracting profits without real economic activity and have not adequately addressed recommendations of the OECD Forum on Harmful Tax Practices which they committed to earlier this year. This increases the number of jurisdictions on the so-called blacklist to 12. The others are: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu. Turks and Caicos Islands is now listed for the first time. The Bahamas was already once listed in 2018, and Anguilla once in 2020.

Jurisdiction(s): England, Northern Ireland, Scotland, Wales, European Union and World

News
Show more + Show less -
Guidance
Show more + Show less -

Popular Articles

Owner-Managed Businesses

Wholly and exclusively

Wholly and exclusivelyFor both income tax and corporation tax purposes, one of the fundamental conditions that must be satisfied for an item of expenditure to be deductible, is that it must incurred ‘wholly and exclusively’ for the purposes of the trade, profession or vocation. References to CTA

14 Jul 2020 14:00 | Produced by Tolley Read more Read more
Trusts and Inheritance Tax

Gifts out of surplus income

Gifts out of surplus incomeA valuable exemption from inheritance tax (IHT) applies to gifts out of surplus income. This exemption applies only to lifetime gifts and is therefore a key part of lifetime planning. The exemption applies to both outright gifts and gifts into trust. Gifts which meet the

14 Jul 2020 11:48 | Produced by Tolley in association with Emma Haley at Boodle Hatfield LLP Read more Read more
Owner-Managed Businesses

Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

14 Sep 2022 09:49 | Produced by Tolley Read more Read more