Finance Minister Davendranath Tancoo has hailed the removal of Trinidad and Tobago from the European Union (EU) list of non-cooperative tax jurisdictions, describing it as a major milestone in the country’s ongoing tax reform efforts.
Trinidad and Tobago was officially removed from the EU tax list following a decision by the European Union’s Economic and Financial Affairs Council on February 17th 2026.
In a statement issued after the announcement, Minister Tancoo said: ““We warmly welcome and celebrate the significant progress that Trinidad and Tobago has achieved in its engagement with the European Union on matters of international tax good governance. This milestone reflects my Government’s sustained commitment to transparency, fairness and adherence to internationally accepted standards.”
“This achievement underscores our dedication to implementing robust global tax standards and strengthens confidence in our economic and regulatory frameworks. We express our appreciation to our partners in the European Union for recognising the reforms we have undertaken, and we look forward to deepening our collaboration as we continue building a modern, competitive, and globally integrated economy.”
The delisting follows several years of sustained engagement, constructive dialogue, and close cooperation between the Ministry of Finance and European Union authorities, aimed at aligning Trinidad and Tobago’s tax framework with internationally agreed standards for good governance.
EU Ambassador to Trinidad and Tobago, Cécile Tassin, also welcomed the development.
“The progress made by Trinidad and Tobago on the path towards meeting the internationally agreed standards on tax good governance is impressive. These efforts should be commended. They are a positive sign for the continued strengthening of our partnership.”
The EU tax listing process supports global efforts to combat tax evasion and avoidance risks, strengthen transparency, and promote fair and responsible taxation worldwide. By meeting these standards, Trinidad and Tobago reinforces its reputation as a reliable and cooperative international financial partner while contributing to broader international efforts to reduce illicit financial flows and tax abuse.
According to the statement from the Delegation of the European Union to Trinidad and Tobago, Trinidad and Tobago took a key step to achieve this positive result, in replacing its former Free Trade Zone regime, which was found harmful, with a Special Economic Zone regime that meets the international standard.
Between 2024 and 2025, Trinidad and Tobago also made major progress in strengthening tax transparency standards. In July 2025, Trinidad and Tobago signed the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters in November 2024 and received a “Largely Compliant” rating from the Global Forum on Transparency and Exchange of Information for Tax Purposes on exchange of information on request. Then, in December 2025, the Global Forum confirmed that Trinidad and Tobago’s laws met the standards for the automatic exchange of financial account information as well.
Trinidad and Tobago also addressed the BEPS Inclusive Framework’s general recommendations on Country-by-Country reporting (CbCR) to prevent profit shifting by multinational companies.
These reforms marked the successful completion of a comprehensive reform agenda, enabling the European Union to remove Trinidad and Tobago from the EU tax list in February 2026. This achievement highlights the country’s strong reform trajectory and underscores the benefits of international cooperation in promoting transparency, fairness, and sustainable economic growth.