ULAN BATOR, Oct. 7 (Xinhua) -- The Council of the European Union (EU) has removed Mongolia from the EU list of non-cooperative jurisdictions for tax purposes, the Mongolian Foreign Ministry said Wednesday.
The country was removed from the list after it deposited the instruments of ratification of the Convention on Mutual Administrative Assistance in Tax Matters developed jointly by the Organization for Economic Co-operation and Development and the Council of Europe, the ministry said.
According to the Council, the EU list of non-cooperative jurisdictions for tax purposes is part of the EU's external strategy for taxation and aims to contribute to ongoing efforts to promote tax good governance worldwide.
"It lists non-EU jurisdictions that either have not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement reforms to comply with a set of objective tax good governance criteria, concerning tax transparency, fair taxation and implementation of international standards against tax base erosion and profit shifting," the Council said. Enditem
