Liechtenstein, Monaco and Andorra have been cut from the Organisation for Economic Co-operation and Development's (OECD) "un-cooperative" list, as other jurisdictions enter a flurry of tax agreement signing in a bid to improve their transparency.
The trio of countries have been removed form the OECD's List of Unco-operative Tax Havens in light of recent political commitments, according to a statement.
Liechtenstein, Monaco and Andorra have all taken steps to implement the OECD's standards on transparency and effective exchange of information, agreeing on a timetable to enforce the measures.
The jurisdictions have committed to the internationally agreed tax standard, but have not yet fully implemented it, but are expected to do so "swiftly," says the OECD.
Meanwhile, Bermuda and the Netherlands have signed a bilateral agreement for the exchange of information for tax purposes, bringing Bermuda's tally to 12 and therefore crossing the threshold for being considered to have substantially implemented the internationally agreed standard in this area
Luxembourg has signed a protocol to its double taxation convention with Denmark.
Luxembourg is also negotiating with other countries to update the exchange of information provisions in its bilateral treaties with them.
Jersey has signed a Tax Information Exchange Agreement (TIEA) with Australia, marking the jurisdiction's 14th agreement.
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