Marshall Islands off blacklist

At the European Union (EU) Economic and Financial Affairs Council (ECOFIN) meeting in Brussels recently, it was announced that the Republic of the Marshall Islands (RMI) has been removed from the EU’s list of non-cooperative jurisdictions for tax purposes. The ECOFIN’s decision is the culmination of months of dialogue between the RMI and representatives from the EU Code of Conduct Group and European Commission. The RMI will maintain engagement with the EU and other international institutions to ensure that international standards of corporate governance and taxation continue to be met.