On 28th of September 2021, in Brussels the European Union finance ministers decided to remove Seychelles, Anguilla and Dominica from the EU blacklist. As the consequence, the jurisdictions will be moved to the so called “grey list” in the nearest time.
It is deemed that the countries in the “grey list” are those that made substantial progress to amend their taxation regimes to better. Those jurisdictions are pending the review of changes by European special authorities.
Despite the motion submitted to the EU, Panama was rejected to be removed from the blacklist due to lack of progress according to the ministers. The EU officials are not satisfied with the Panamanian progress in revision of a foreign-source income exemption regime (FSIE).
All the mentioned countries, namely Anguilla, Dominica, Panama and Seychelles remain 0% corporate tax jurisdictions for companies incorporated there and doing business offshore.
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