The EU left Russia off the “untrustworthy” list of offshore companies

The European Union has announced an update of the list of jurisdictions that do not cooperate in the field of taxation, in particular, recognizing the insufficient efforts to correct their own tax system on the part of 12 jurisdictions, including Russia, which remains on the “untrustworthy” list. This is stated in a message from the European Commission.

“As part of the EU’s work to promote tax transparency and fair taxation around the world, Member States have today removed four jurisdictions – the Bahamas, Belize, Seychelles and the Turks and Caicos Islands – from the EU’s list of non-cooperative jurisdiction in tax matters, ” they said.to the European Commission.

The EU list now consists of 12 jurisdictions that have not improved their standards of good tax governance or have not made sufficient progress in meeting their past obligations:

The list of jurisdictions that do not cooperate with the EU for tax purposes is part of the external tax strategy and aims to contribute to the ongoing effort to promote good tax governance worldwide.

Let’s remember that the Council of the European Union extended the sanctions against Russia in connection with the military aggression against Ukraine until February 24, 2025.