The European Council has decided to remove four territories in its latest update. Bahamas, Belize, Seychelles and the Turks and Caicos Islands leave.
The group of countries considered non-cooperative in tax matters is thus reduced from 16 to 12 jurisdictions. The countries on the so-called gray list are also decreasing. This catalog includes those jurisdictions that, unlike tax havens, have committed to carrying out reforms to comply with Brussels requirements. The Council updates its list of tax havens twice a year—in February and October.