Executive Summary:
- Belize, Seychelles and Antigua & Barbuda have been added on the EU list of non-cooperative countries.
- The British Virgin Islands, Costa Rica, and the Marshall Islands have been removed from the EU list of non-cooperative countries.
- From a Cyprus perspective the impact needs to also be seen alongside the new legislation effective from 1 January 2023, where dividends and interest paid to countries in blacklisted jurisdictions will bear withholding tax.
As seen above the update includes the addition of Antigua and Barbuda, Belize and Seychelles to the EU
list of non-cooperative jurisdictions for tax purposes.
In addition to that, the updates include the removal from the list of British Virgin Islands, Costa Rica and Marshall Islands.
The updated list is available through the following link.
Special attention needs to be taken when you trade/interact with entities domiciled in the listed jurisdictions and you should always take advise from your tax/accounting professional.
If you need any assistance please do not hesitate to contact us.
