The EU’s Code of Conduct Group established for monitoring Business Taxation within Europe has made contact with the following nations in the form of a strongly worded-letter, urging them to remove various clauses in their tax laws:
• Saint Lucia.
• the Seychelles.
All the above jurisdictions are being requested to make a high-level commitment to combatting tax evasion, or to abolish and amend certain detrimental special tax treatment by the end of the 2019 financial year.
The fundamental risk with these countries is that failing to act could see them otherwise involved with the EU’s revision list of non-cooperative jurisdictions for taxation resolutions.