EU lists Turks and Caicos as non-cooperative jurisdiction for tax purposes
The EU in its attempt to promote fair tax competition and address harmful tax practices, has added Turks and Caicos Islands for the first time to its list of non-cooperative jurisdictions for tax purposes. The Council regrets that the 12 jurisdictions on the list are non-cooperative on tax matters and invites them to engage with the EU’s Code of Conduct Group in order to resolve the identified issues. “Fair taxation of businesses benefits all of us. This is why the EU and international partners share a common interest in fighting tax base erosion and profit shifting. I believe all 12 …
Tax havens begin sharing information about entities that earn income from IP, other mobile activities
Turks and Caicos Islands is among twelve tax haven countries, which for the first time, provided information about the activities of some business entities located in the country to the countries where the entities’ parents or beneficial owners are tax resident, Organisation for Economic Co-operation and Development (OCED) recently announced. Anguilla, the Bahamas, Bahrain, Barbados, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Turks and Caicos Islands, and the United Arab Emirates, followed standards set out by the OECD’s Forum on Harmful Tax Practices, the OECD said. The information disclosed by the 12 countries includes the identity …
