The European Union has included Russia in the “grey list” of tax jurisdictions – countries that do not fully comply with international tax standards. On this subject said in a communication from the Council of the EU, writes Novaya Gazeta Europe.
Besides Russia, the list included the British Virgin Islands, the Marshall Islands and Costa Rica. North Macedonia, Barbados, Jamaica and Uruguay left the list, while Hong Kong, Malaysia and Qatar were granted a deferral to address shortcomings in tax legislation. In total, the list now includes 16 countries.
According to the Council of the EU, Russia has not fulfilled its obligations to “eliminate the harmful aspects of the special regime for international holding companies”. In addition, the EU Council notes that the dialogue with Russia on tax legislation “has reached an impasse” after the start of the war in Ukraine.
For the first time, the “grey list” of jurisdictions was established in December 2017. The next revision is scheduled for October 2023.