Article Archive

February 2025 · International Tax

The European Union has updated its list of non-cooperative jurisdictions for tax purposes — commonly referred to as the EU Blacklist. This list is reviewed and revised twice annually by the EU Council and currently includes jurisdictions that have failed to commit to, or implement, agreed international tax standards.

For 2025, several jurisdictions remain on the list, with new additions reflecting concerns around harmful tax practices, lack of transparency, and failure to meet BEPS-related commitments. Businesses transacting with entities in listed jurisdictions face stricter withholding tax requirements in many EU member states, increased scrutiny of transactions, and reputational risk.

Cyprus, as an EU member state, actively complies with EU guidance and applies enhanced due diligence to transactions involving blacklisted jurisdictions. Companies with cross-border operations should review their counterparty profiles and ensure their structures and transactions can withstand scrutiny. Canney Services monitors these developments closely and provides timely guidance to affected clients.