The EU Council has approved a revised list of non-cooperative jurisdictions for tax purposes, keeping American Samoa, Panama, and the Russian Federation on the blacklist for failing to meet EU standards on tax transparency, fair taxation, and anti-BEPS measures. The decision, adopted via a written procedure on 2 June 2026, updates the EU's blacklist of jurisdictions that refuse to comply with tax good governance criteria, impacting businesses and individuals operating in or with these territories.
The document, an I/A item note dated 2 June 2026, was adopted by the Council (Economic and Financial Affairs) ahead of its formal meeting on 10 June 2026. It represents a routine but politically significant update to the EU's tax governance framework, which aims to combat tax evasion and avoidance by naming and shaming non-compliant jurisdictions.
Policy Orientations and Trade-offs The revised list reflects a balance between encouraging compliance and penalizing persistent non-cooperation. The Council welcomed progress made by some jurisdictions but expressed regret over ongoing non-compliance by others. Specifically, it urged Türkiye to resolve outstanding issues related to automatic exchange of information, signaling a diplomatic push for full adherence. The inclusion of the Russian Federation underscores geopolitical tensions, as Moscow has been under EU sanctions since 2022. The list serves as a soft-law instrument, but its reputational and economic consequences can be significant for listed jurisdictions.
Impact on Stakeholders - EU businesses and investors: Those with operations in listed jurisdictions face increased scrutiny, potential reputational risks, and possible defensive measures from EU member states, such as withholding taxes or enhanced reporting requirements. - Listed jurisdictions (American Samoa, Panama, Russia): They suffer reputational damage and may face reduced foreign investment and banking relationships, as EU financial institutions often restrict dealings with blacklisted entities. - EU member states: They benefit from improved tax transparency and reduced opportunities for tax avoidance, but may also face administrative burdens in implementing defensive measures. - Türkiye: As a non-EU country urged to resolve issues, it faces pressure to comply with EU standards to avoid being added to the list, which could affect its economic ties with the bloc.
Expected Institutional Follow-up The Council's decision is final and will be published in the Official Journal of the EU. The European Commission will continue to monitor compliance and propose updates to the list as needed. The European Parliament has no formal role in this process but may issue opinions. The next review is expected within six months, with potential additions or removals based on progress.
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