Tax Havens 2024

With effect from 2024, the list of countries considered tax havens has been updated.

In fact, the concept of tax havens has been expanded, adapting it to the international concept of non-cooperative jurisdiction and new factors have been established to be taken into account when classifying them as “non-cooperative jurisdictions”.

Such factors are:

Territories that facilitate the existence of companies with no economic activity aimed at attracting profits from abroad.
Territories with low or no taxation or lack of transparency.
Territories that lack effective exchange of information with Spain.

The updated list of countries and territories that have the consideration of “non-cooperative jurisdictions” are the following:

• Anguilla.
• Bahrain.
• Barbados.
• Bermuda.
• Dominica.
• Fiji.
• Gibraltar.
• Guam.
• Guernsey.
• Isle of Man.
• Cayman Islands.
• Maldives.
• Mariana Islands.
• Solomon Islands.
• Turks and Caicos Islands.
• British Virgin Islands.
• Virgin Islands of the United States of America.
• Jersey.
• Palau.
• Samoa, with respect to the harmful tax regime (offshore business).
• American Samoa.
• Seychelles.
• Trinidad and Tobago.
• Vanuatu.

The new list will apply from February 11, 2024, except for those countries not previously included (such as Somoa, Guam or Palau) for which it will enter into force on August 11, 2024.

Cigarrán can advise you on this and other tax and accounting issues.