LatinNews Daily - 15 February 2023

*The European Council (EC) has announced that it has added Costa Rica to its list of non-cooperative jurisdictions for tax purposes – a list of jurisdictions which are “non-cooperative on tax matters” and invited “to improve their legal framework in order to resolve the identified issues”. According to an EC statement, for the first time since the list was established, in 2017, Costa Rica is included because it has not fulfilled its commitment to “abolish or amend the harmful aspects of its foreign source income exemption regime (criterion 2.1)”. The EC also announced that it was removing Barbados, Jamaica and Uruguay from the list (along with North Macedonia). Latin America & Caribbean territories which remain on the list include Anguilla, Bahamas, British Virgin Islands, Panama, Trinidad & Tobago, Turks & Caicos Islands and US Virgin Islands.

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