On 10 October 2019 it was announced at the Economic and Financial Affairs Council (ECOFIN) meeting in Brussels that Republic of Marshal Islands was removed from the European Union's list of non-cooperative jurisdictions for tax purposes. The decision is the result of productive dialogue between the Republic of Marshal Islands and representatives of the European Union Code of Conduct Group and European Commission.
The amendments to the Republic of Marshal Islands Economic Substance Regulations indicated the Republic of Marshal Islands’s commitments with respect to the European Union’s tax policies and were positively received by the European Union.
The Republic of Marshal Islands is determined to continue the process of cooperation with the European Union, while already demonstrating the strong intention to fully comply with the European Union tax initiatives and adapt to the International Standards.
The Republic of Marshal Islands is well-known for its modern corporate registry and is the world’s leading ship registry, having a perfect score from the International Chamber of Shipping, making it a highly popular choice for entrepreneurs and investors worldwide.
The amended text of the Republic of the Marshall Islands “Economic Substance Regulations 2018”, is available on the Republic of the Marshall Islands Register website. You can read it here