On Tuesday 18 February, the European Finance Ministers adopted their second major update of the European ‘black’ list of non-cooperative jurisdictions in terms of taxation. Four new territories are being added: the Cayman Islands, Palau, Panama and the Seychelles (see EUROPE B12425A8).
None of the eight countries currently on the ‘black’ list (American Samoa, Fiji, Guam, Oman, Trinidad and Tobago, the US Virgin Islands, and Vanuatu) have been removed, bringing the total number of...