New countries have been added to the EU tax blacklist
Published 21 March 2023
Category: Taxation / VAT
On 14 February 2023, the British Virgin Islands, Costa Rica, the Marshall Islands, and the Russian Federation have been added to the EU tax blacklist by the EU Council.
Previously, EU have added Anguilla, Bahamas and the Turks & Caicos Islands to its blacklist, which is also expected to be added to the Danish blacklist at the next revision.
Denmark have introduced sanctions against blacklisted countries, including the denial of tax deductions in Denmark for payments to related entities domiciled or registered in a blacklisted country, as well as increased taxes on dividends to persons who are tax residents or registered in a blacklisted country.
What’s next: The EU tax blacklist is not directly applicable in Danish law, but it is expected that Denmark at the next revision of the Danish Tax Assessment Act will update the Danish blacklist. It is at the moment unclear when this will happen. Companies with activities in blacklisted countries should consider their next steps before the revision takes place.
We will follow the development and are available for questions or counseling.
See the full list here.
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