EU Removes Morocco from Tax Haven Watchlist, Recognizing Reforms

The conclusions of the Council of the EU, approved on Monday, February 22, 2021, are the final and definitive step in the procedure following the green light from the ambassadors of the EU Member States and confirm the definitive removal of the kingdom from the EU’s gray list, indicates the Ministry of Finance in a press release. Morocco is therefore now "Green Listed".

For the department of Mohamed Benchaâboun, this development testifies that the reforms undertaken by the kingdom in tax matters are in harmony with the conditions of the EU and international standards, as well as the positive cooperation between the Moroccan and European authorities on this subject.

In addition to Morocco, countries such as Namibia and Saint Lucia have also been removed from the EU’s gray list. The countries that are now on it are nine: Australia, Barbados, Botswana, Eswatini, Jamaica, Jordan, Maldives, Thailand and Turkey.

According to the update, 12 jurisdictions such as American Samoa, Anguilla, Dominica, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, Vanuatu and the US Virgin Islands are on the black list.