All Caribbean CIP countries have been removed from EU blacklist for non-cooperative tax jurisdictions. Saint Lucia and St Kitts and Nevis were previously listed but these two countries took appropriate tax governance measures and consequently have been removed from EU list with the latest update..
EU list aims to improve tax good governance globally, and to ensure that the EU’s international partners respect the same standards as EU Member States with transparency, fair tax, and economic activity.
The five countries are still the list below are those that refused to engage with the EU or to address tax good governance shortcomings (as of November 6 of 2018).
- American Samoa
- Guam
- Samoa
- Trinidad and Tobago
- USÂ Virgin Islands
OECD has listed all caribbean citizenship by investment programs (CIP) that present a high risk for circumventing CRS reporting. This is a 2019 latest update and none of the countries have been removed yet.
The recently released EU report on investor residence and citizenship schemes said “It seems that very few of the schemes include provisions with the explicit purpose of avoiding or evading tax.”
The report also specifically “New or additional citizenships which may help to obscure the actual tax residence of the individual, leading to the tax rules in their original country to be circumvented. Schemes in countries which do not tax the income, or tax it at a very low rate, carry a greater risk of account holders hiding evidence of the real state of residence and thereby evading tax. In particular, some EU citizens may deliberately evade taxation in their EU State of residence by acquiring citizenship”
The latest update of EU blacklist is here
