On 14 September 2020, the Ministry of Finance has released General Guide DG-02/2020 including the list of jurisdictions and territories that are considered tax havens for tax purposes for the 2021 fiscal year. The list includes the low and no tax jurisdictions/territories.
Low-Tax Jurisdictions/Territories
Albania, Andorra, Azores Island (Portugal), Barbados, Bosnia and Herzegovina, Botswana, Bulgaria, Cyprus, Czech Republic, Estonia, Georgia, Gibraltar, Hong Kong, Hungary, Iceland, Ireland, Kazakhstan, Kuwait, Kyrgyzstan, Labuan (Malaysia), Latvia, Lebanon, Liechtenstein, Lithuania, Macau, Macedonia, Maldives, Malta, Mauritius, Moldova, Montenegro, Oman, Palau, Paraguay, Poland, Qatar, Romania, San Marino, Saudi Arabia, Serbia, Singapore, Slovenia, Switzerland, Taiwan, Texas (U.S.), Timor-Leste (East Timor), Turkey, Turkmenistan, Uzbekistan, and Washington (U.S.).
No-Tax Jurisdictions/Territories
Anguilla, Antigua and Barbuda, Aruba, Bahamas, Bahrain, Belize, Bermuda, British Virgin Islands, Brunei, Campione d’Italia (Italy), Cayman Islands, Cook Islands, Curacao, Delaware (U.S.), Dominica, Florida (U.S.), Grenada, Guernsey, Isle of Man, Jersey, Liberia, Marshall Islands, Monaco, Montserrat, Nauru, Nevada (U.S.), Norfolk Islands, Qeshm (Iran), Samoa, Seychelles, South Dakota (U.S.), Saint Helena and Tristan da Cunha, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Sint Maarten, Turks and Caicos, U.S. Virgin Islands, United Arab Emirates, Vanuatu, and Wyoming (U.S.).
Jurisdictions/Territories Classified as Tax Havens by the OECD/FATF
The guide includes no jurisdictions/territories as classified by the OECD/FATF for 2021. Note that companies in jurisdictions / territories not listed in the above may also be subject to increased withholding tax and transfer pricing rules if they enjoy tax exemption or are subject to or subject to tax less than 80% of the tax rate imposed in El Salvador, or certain preferential regimes with low or no taxes, such as a holding company regime, a headquarters regime, an international business regime, etc.
