The final three jurisdictions on the Organisation for Economic Cooperation and Development's list of uncooperative tax havens have been removed from the blacklist.
The OECD's Committee on Fiscal Affairs said it made the decision to remove Andorra, Liechtenstein and Monaco in light of recent political commitments by all three to 'implement the OECD's standards of transparency and effective exchange of information'.
Although they have agreed to the international tax standard, the countries have not yet implemented it, but this move has pushed them off of the 'uncooperative' list onto a 'grey' list of countries that still need to improve transparency.
'It is expected that all three jurisdictions will now swiftly implement their commitment,' the OECD said.
The Lichtenstein government entered into negotiations in April with HM Revenue & Customs for a bilateral agreement on tax information exchange, in a bid to improve transparency between the two.
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