EU Tax List: The Consolidated List of High-Risk Countries

The below list is an EU-provided of high risk third countries; including the non-cooperative and other monitored jurisdictions that have been officially identified by the Financial Action Task Force (FATF).

EU Tax List: The Consolidated List of High-Risk Countries

 

The FATF criteria which is being used to decide the below table is as follows:

  • Establishing criteria at a government level in line with global tax standards.
  • Vetting countries against these criteria appropriately.
  • Actively participating with jurisdictions which do not comply.
  • Listing and de-listing jurisdictions accordingly as they commit or take action to comply.
  • Supervising developments to ensure jurisdictions do not reverse previous improvements.
COUNTRY A/A EU HIGH-RISK THIRD COUNTRIES FATF HIGH-RISK & NON- COOP

EU TAX BLACK LIST

Afghanistan  4.    
American Samoa  2.    
Bahamas  18.      
Bosnia and Herzegovina  6.      
Botswana  19.      
Cambodia  14.      
Cayman Islands  21.      
Democratic People’s Republic of Korea 15.      
Ethiopia  1.      
Fiji Islands  20.      
Ghana  7.      
Guam  8.      
Guyana  9.      
Iceland  13.      
Iran  12.  
   
Iraq  11.      
Mongolia  17.      
Oman  22.      
Pakistan  24.      
Palau  25.      
Panama  26.      
People’s Republic of Laos (PRL)  16.      
Samoa  27.      
Seychelles  28.      
Sri Lanka  29.      
Syria  30.      
Trinidad & Tobago  31.      
Tunisia  32.      
Uganda  23.      
US Virgin Islands 3.      
Vanuatu  5.      
Yemen  33.      
Zimbabwe  10.      

The Institute of Certified Public Accountants of Cyprus has given warnings to all licensed firms and members to take the abovementioned list into consideration when dealing with the application and implementation of due diligence measures and procedures respectively; particularly during the formation of any KYC procedures such as the Client Acceptance Policy and other preliminary risk assessments.


 


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