List of tax havens

There are multiple definitions of the concept of a tax haven. The list of tax havens varies by country and also evolves over time. Moreover, not all tax havens are equal in terms of opacity and tax advantages granted to taxpayers. For this reason, there are several lists of tax havens.

The list of tax havens according to the OECD

Since 2008, the OECD has established a standard for international cooperation, exchange of information, and banking secrecy.

Following the G20 on April 2, 2009, the OECD established four lists of countries.

Countries widely applying the standard: Argentina, Australia, Barbados, Canada, China (except the “special administrative regions”: Macao and Hong Kong), Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Japan, Jersey, Korea, Malta, Mauritius, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Russia, Seychelles, Slovakia, South Africa, Spain, Sweden, Turkey, United Arab Emirates, United Kingdom, United States, Virgin Islands;

Countries that have made commitments but do not yet widely apply the standard: Andorra, Anguilla, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Belize, Bermuda, British Virgin Islands, Cayman Islands, Cook Islands, Dominica, Gibraltar, Grenada, Liberia, Liechtenstein, Marshall Islands, Monaco, Montserrat, Nauru, former Netherlands Antilles (currently Curaçao and Saint-Martin), Niue, Panama, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Turks and Caicos Islands, Vanuatu;

Other financial centers that have made commitments but do not yet widely apply the standard: Austria, Belgium, Brunei, Chile, Guatemala, Luxembourg, Singapore, Switzerland;

Countries that have not committed to applying the standard: Costa Rica, Malaysia (Labuan), Philippines, Uruguay; however, the countries on this list have quickly made the necessary commitments.

Austria, Belgium, Luxembourg, and Switzerland have withdrawn their reservations to Article 26 of the OECD model and have proposed to amend their tax treaties to comply with the OECD standard.

The French list of tax havens

Beyond the list established by the OECD, France has its own legislation in terms of defining tax havens.

The French tax administration uses the criterion of comparing the tax burden with France to determine if the taxpayer benefits from a privileged tax regime. Initially set at 50%, the threshold of 60% is now in effect, to take into account the gradual decrease in corporate tax (from 33% to 25% in 2022).

There is therefore no “list,” strictly speaking, of tax havens in France, and any country can now be considered a tax haven if it benefits from favorable tax legislation on certain points. However, there is a list of “non-cooperative” states or territories, but this is based on transparency criteria, not tax burden.

If you are looking for advice on international taxation, the tax lawyers at the firm provide guidance and assistance on all aspects of French and international taxation.