The list, included in the Royal Decree of 6 May 2010, was published on the 12 May 2010 without any significative changes. It came out of the process unmodified and displayed the 30 states mentioned in the original list.

What's the point of this list?

The Royal Decree of 6 May 2010 was adopted in execution of Article 307, §1, 3 to 6 of the CIR/92.
These provisions provide that: “The taxpayers liable for corporation tax or non-residents tax in accordance with the article 227,2°, have to declare all direct or indirect payments to someone established in a State which : (…) b) appears on the list of the States whose taxation is non existant or not significant”.
This refers to States whose nominal company taxation rate is lower than 10%.
The declaration will have to be made only if the total amount of the payments made during the taxable period reaches 100.000 Euros.


• Which are the countries mentioned on the list?

The countries included in the Royal Decree are the following:

1. Abu Dhabi
2. Ajman
3. Andorra
4. Anguilla
5. The Bahamas
6. Bahrain
7. Bermuda
8. The British Virgin Islands
9. The Cayman Islands
10. Dubai
11. Fujairah
12. Guernsey
13. Jersey
14. Jéthou
15. Maldives
16. The Isle of Man
17. Micronesia (Federation of)
18. Moldova
19. Monaco
20. Montenegro
21. Nauru
22. Palau
23. Ras Al Khaimah
24. St. Barthélemy
25. Sercq
26. Sharjah
27. The Turks-and-Caicos Islands
28. Umm Al Quwain
29. Vanuatu
30. Wallis-and-Futuna


One will notice that the legislator did not hesitate to enumerate the states of the United Arab Emirates and the Channel Islands, which elongated the black list.

It confirms that Liechtenstein, Hong-Kong and Panama are not tax haven.


Danièle COHEN