The Marshall Islands (RMI) has been promoted to white-list status by the European Union (EU) Economic and Financial Affairs Council (ECOFIN), which met in Brussels on February 18th.
The RMI moved to the white list after receiving a largely compliant rating following adoption of the RMI’s second round Peer Review Report on Exchange of Information on Request from the Organisation for Economic Co-operation and Development’s (OECD’s) Global Forum on Transparency and Exchange of Information for Tax Purposes.
RMI Minister of Finance, Alfred Alfred Jr, said that “the Marshall Islands welcomes the ECOFIN’s decision, which recognizes the hard work we have done. and will continue to exert all efforts to remain compliant with the EU and OECD requirements”.
He added that “the white listing and largely compliant rating truly reflect the Marshall Islands’ commitment to international corporate governance and taxation standards”.