EU list removal

Members of the European Union (EU) Code of Conduct Group have reviewed and positively assessed the proposed amendments to the Republic of the Marshall Islands (RMI) Economic Substance Regulations promulgated by the Registrar of Corporations. The amendments warrant removal of the RMI from the list of non-cooperative jurisdictions for tax purposes. This follows months of dialogue between the RMI and representatives from the EU Code of Conduct Group and European Commission. The outcome confirms that, on passage of the amendments, a recommendation for the removal of the RMI from the list will be made to the Economic and Financial Affairs Council.