Costa Rica, the Virgin Islands and the Marshall Islands They left the black list of tax havens of the European Union (EU) after having addressed some problems in their tax regimes, while Antigua and Barbuda, Belize and Seychelles They enter this repertoire after the update approved this Tuesday by their Member States.

Following the changes, approved by the EU Economy and Finance Ministers, the list includes 16 jurisdictions around the world: Panama, Russia, American Samoa, Antigua and Barbuda, Anguilla, Bahamas, Belize, Fiji, Guam, Palau, Samoa, Seychelles, Trinidad and Tobago, Turks and Caicos Islands, the US Virgin Islands and Vanuatu.

The list, which is updated every six months, includes those jurisdictions that do not comply EU standards on tax transparencytax justice or implementation of international standards to avoid the erosion of the tax base or the transfer of profits, and that they also do not take steps to address these problems.

Being included in it does not entail financial sanctionsbeyond the prohibition of European funds transiting through entities located in these jurisdictions and administrative measures, such as more frequent audits, although States may decide at the national level to impose other types of penalties.

Costa Rica entered and is out again

Costa Rica It had entered the repertoire for the first time last February, but it leaves it in this update after having amended a regime of tax exceptions for income of foreign origin, as indicated by the Council of the EU in a statement.

At the same time, the EU has removed the Virgin Islands after they have amended their tax information exchange framework, as well as the Marshall Islands for having done “significant progress“in the application of the economic substance requirements.

On the contrary, Antigua and Barbuda, Belize and Seychelles fall into this repertoire since the EU has detected that all of them do not meet the standards regarding the exchange of tax information upon request.

On the other hand, the EU has removed four jurisdictions from what is known as “gray list“, which includes the territories where the Twenty-seven have encountered problems in matters of tax cooperation but have committed to making changes to their legislation to address them.

Is about Jordan and Qatarwhich come out after having amended certain harmful tax regimes, as well as Montserrat and Thailandwho have respected all their pending commitments regarding country-by-country tax information.

The EU has always insisted that the purpose of its list of tax havens is not to sanction those on it, but to encourage them to make changes to their legislation. Prepared by the Member States, the repertoire It is updated every six months.