Barbados has been removed from the European Union’s list of non-cooperative jurisdictions and Dominica has been added.
The Isle of Man has launched a consultation on legislative changes to ensure the territory remains fully compliant with international standards on recording details of the beneficial owners of legal entities.
Bermuda has been granted Reciprocal Jurisdiction status effective January 1, 2020, and has had its status as a Qualified Jurisdiction extended by the National Association of Insurance Commissioners (NAIC), after a five-year evaluation.
The governments of Jersey, Guernsey, and the Isle of Man have jointly announced a series of steps to improve the accessibility and transparency of their respective registers of beneficial ownership information.
Hong Kong, Liechtenstein, Luxembourg, the Netherlands, North Macedonia, Spain, and the Turks and Caicos Islands have been rated „Largely Compliant“ with international tax transparency standards following a peer review by members of the OECD Global Forum.
The EU Code of Conduct Group (Business Taxation) has notified authorities in Barbados, Belize, Curacao, Mauritius, Saint Lucia, and Seychelles that the group considers further changes are needed to their tax regimes to bring them into line with international standards.
Caribbean territory Saint Kitts and Nevis announced no new taxes or rate changes in its new Budget. However, it is planning a number of compliance initiatives and legislative amendments to conform with evolving international tax standards.