The EU originally screened a total of 92 countries to draw up the list which is expected to be continuously updated
Today the Council of the European Union removed Barbados, Grenada, the Republic of Korea, Macao SAR, Mongolia, Panama, Tunisia and the United Arab Emirates from the EU list of non-cooperative jurisdictions in taxation matters.
In December, EU finance ministers put 17 countries on the blacklist, calling their taxation systems unfair and discriminative.
The EU calls its listing process beneficial as it "prompted countries to improve their tax systems, in line with global standards", with many countries closely cooperating with the bloc and making "firm commitments to fix problems identified in their tax systems", whereas many others "actually improved their standards immediately, in response to the EU listing exercise".
The Panama Papers and Paradise Papers exposés, of April 2016 and November 2017 respectively, are seen to have forced an issue that had already been under discussion.
The EU today officially took out eight countries from its blacklist for tax havens outside the bloc, leaving only nine jurisdictions on the list.
The list was drawn up just last month in a bid to double down on tax avoidance. A spot on the blacklist increases the risk of being slapped with sanctions.
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Countries on the greylist can be moved back onto the blacklist of they fail to improve quickly enough, but this has not happened yet.
The 55 countries that initially made that pledge are now on a so-called grey list, and will have their efforts evaluated in Brussels at the end of year.
The list also carries recommendations on steps to take to be de-listed.
"The EU is rushing to take countries off the blacklist without it being clear what they have actually committed to improve; this is further undermining the process", said Aurore Chardonnet, Oxfam's EU policy adviser on tax and inequality. "Crossing Panama - one of the world's most prolific tax havens - off the blacklist is a disastrous sign in the fight against tax avoidance", said Markus Ferber, the Vice-Chair of the European Parliament's economic committee.
The European Council said the intention is to revise the list at least once a year, although the EC's Code of Conduct Group, which is responsible for preparing it, may recommend an update at any time.
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