The Bahamas has welcomed news that it will be removed from the EU's list of non-cooperative jurisdictions for tax purposes.
The Government said it received confirmation of this in writing on April 17, 2018, from the Secretariat of the Code of Conduct Group, which makes recommendations to the EU Council on jurisdictions that should be included on the EU tax blacklist.
The development follows a meeting of EU member states on April 12, 2018, at which they agreed to recommend this decision to the EU Economic and Financial Affairs Council (ECOFIN), which is responsible for making the decision official.
Based on communications from the Secretariat, the Bahamas Government says it expects ECOFIN to take up the recommendation without discussion by their next meeting on May 25, 2018.
The territory government says the Bahamas removal from the EU tax blacklist is the culmination of ongoing discussions with the Code of Conduct Group.
By Courtesy of Lowtax.net