BVI has been removed from the EU’s list of countries which fail to cooperate with the EU on tax matters.

The European Council released the most recent version of the EU blacklist, or list of non-cooperative states for tax purposes, on October 17, 2023.

The British Virgin Islands were taken off the list by the EU since they changed their framework for exchanging information upon request and will now be reconsidered in compliance with the OECD criteria. The BVI is listed in Annex II, a list of nations which collaborate with the EU and have outstanding commitments, pending a reevaluation.

It is anticipated that the BVI will be eliminated in the coming days after it is published in the EU Official Journal.

On another note, Seychelles and Belize were added to the EU blacklist at the same time.