The Council of the European Union has removed four countries from its list of non-cooperative jurisdictions for tax purposes.

In a statement issued yesterday, it said The Bahamas, Belize, Seychelles and Turks and Caicos Islands were taken off.

T&T however is among the 12 jurisdictions that remain on the list.

The Council says these 12 are not yet cooperative on tax matters and has invited them to improve their legal framework in order to resolve the identified issues.

Still on the list are: American Samoa, Anguilla, Antigua and Barbuda, Fiji, Guam, Palau, Panama, Russia, Samoa, Trinidad and Tobago, US Virgin Islands, and Vanuatu.

The EU says the list is part of its external strategy on taxation and aims to contribute to ongoing efforts to promote tax good governance worldwide.

Jurisdictions are assessed on the basis of a set of criteria laid down by the EU Council, with the criteria covering tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.

The list is updated twice a year to keep track of developments, usually in February and October, under the auspices of the EU finance ministers.