“European Union finance ministers have updated the bloc’s list of non-cooperative jurisdictions for tax purposes, adding Vietnam and the Turks and Caicos Islands to the ‘blacklist’ of global tax havens.”
“In a statement released on 17 February, the Council of the European Union confirmed that while two nations were added, three others—Fiji, Samoa, and Trinidad and Tobago—were removed after being deemed compliant with international tax standards.”
“The revised list now comprises ten jurisdictions: American Samoa, Anguilla, Guam, Palau, Panama, Russia, the Turks and Caicos Islands, the US Virgin Islands, Vanuatu, and Vietnam.”
“The inclusion of Vietnam marks a significant setback for the Southeast Asian nation. Having been removed from the EU’s ‘grey list’—a category for countries committed to reform—in October, Vietnam has now been downgraded directly to the blacklist.”