BIZweek n°261 11 oct 2019
BIZweek n°261 11 oct 2019
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  • Parution : n°261 de 11 oct 2019

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 7

  • Taille du fichier PDF : 1,4 Mo

  • Dans ce numéro : les premiers contours d'une fiscalité numérique.

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VENDREDI 11 OCTOBRE 2019 BIZWEEK ÉDITION 261 LA TOUR EU’S LIST OF NON-COOPERATIVE JURISDICTIONS FOR TAX PURPOSES MAURITIUS REMOVED FROM THE GREY LIST The 28-nation European Union setup a blacklist and a grey list of tax havens in December 2017. It announced yesterday that it will remove the United Arab Emirates and the Marshall Islands from the Union’s list of non-cooperative jurisdictions for tax purposes. The Council of the EU also found Albania, Costa Rica, Mauritius, Serbia and Switzerland to be compliant with all commitments on tax cooperation The European Union list contributes to on-going efforts to prevent tax avoidance and promote good governance principles such as tax transparency, fair taxation or international standards against tax base erosion and profit shifting. The list was established in December 2017 and is contained in annex I of the conclusions adopted by the Council. The conclusions also contain a second annex which includes jurisdictions that have undertaken sufficient commitments to reformtheir tax policies and whose reforms are being monitored by the Council’s code of conduct group on business taxation. The EU list of non-cooperative jurisdictions for tax purposes was subsequently modified by the ECOFIN Council on 17 May 2019 and 14 June 2019, with the de-listing of Aruba, Barbados, Bermuda and Dominica. Furtherupdates to Annexes I and II of the Council conclusions of 12 March 2019 were also made on the same occasion. This time, Mauritius has been removed from the grey list of tax havens. « Mauritius adopted on 25 July 2019 its Finance Bill 2019 and on 16 August 2019 additional regulations that amended the legislation applicable to its Freeport zone (MU012) and Partial Exemption (MU010) regimes. The Code of Conduct Group (COCG) meeting of 13 September 2019 examined these amendments and concluded that Mauritius had met its commitment to address the deficiencies identified in these two regimes  : Whilst the Freeport zone regime is no longer preferential, substance requirements have been introduced in both regimes and the issue of lack of anti-abuse rules has been addressed by the introduction of CFC rules broadly aligned with those of EU’s anti-tax avoidance directive (ATAD 1). As a result, the COCG concluded that Mauritius should therefore be removed from section 2.1 of Annex II », states the report of the Council of the EU. Other jurisdictions removed from section 2.1 of Annex II concern  : Namibia having joined on 26 August 2019 the Global Forum on transparency and exchange of information for tax purposes, the COCG meeting of 13 September 2019 agreed that it should be removed from section 1.2 of Annex II. Morocco and Serbia having ratified, respectively on 22 May and 30 August 2019, the OECD Multilateral Convention on Mutual Administrative Assistance (« MAC ») as amended, the COCG meeting of 13 September 2019 agreed that they should be removed from section 1.3 of Annex II. Costa Rica adopted on 15 May 2019 legislative amendments to its Free Zones regime (CR001). These were reviewed by the OECD Forum on Harmful Tax Practices (F HTP) at its 19-21 June 2019 meeting, which concluded that they are not harmful. The COCG endorsed this conclusion at its meeting of 10 July 2019. Considering that these legislative amendments also addressed the manufacturing Oxfamhits again Countries on the grey list risk being moved to the blacklist if they fail to deliver on their commitments. « The EU has whitewashed two of the world’s most harmful tax havens, » said Chiara Putaturo of Oxfam, referring to the delisting of Switzerland and Mauritius. « Despite recent reforms, both countries will continue to offer sweet treats to tax-dodging companies, » she said, as cited by Reuters. activities falling under the free zones regime (CR002), the COCG concluded at its meeting of 13 September 2019 that Costa Rica had fully implemented its commitment to remove the harmful features of its Free Zones regime and should therefore be removed from section 2.1 of Annex II. Switzerland adopted its tax reformin October 2018 but the entry into force and entry into application of the legislation were postponed pending the outcome of the referendum in May 2019 and for this reason Switzerland was granted an additional year to comply with criterion 2.1 « due to genuine institutional or constitutional issues despite tangible progressin 2018 ». Following the positive outcome of this referendum, Switzerland informedthe COCG in August 2019 that the official results had been published in the Official Gazette. As a result, the relevant legislation entered into force on 16 July 2019 and will enter into application on 1st January 2020, whilst Switzerland had already announced that its federal regimes CH004 and CH005 had been closed to new entrants as from 1st January 2019. 3

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