Jersey and Guernsey will no longer appear on Italy’s tax blacklist, after the Italian parliament revised provisions in the country’s tax code relating to blacklists on corporate taxation and controlled foreign companies (CFC) rules.
The Isle of Man is set to be removed from a tax haven blacklist of jurisdictions established by Spain in 2006, after the crown dependency revived its ‘redundant’ bilateral tax agreement strategy.
Guernsey has been removed from a blacklist issued by the European Commission which named and shamed 30 allegedly uncooperative tax jurisdictions.
The European Union is risking “geopolitical angst” and “global tax chaos” if it follows through on its threat to add the US to its list of non-cooperative jurisdictions for tax purposes.
