Despite its status as one of the world’s most secretive and low tax jurisdictions, the European Council announced on Tuesday that it has delisted the Cayman Islands from the EU’s list of non-cooperative jurisdictions for tax purposes – informally known as its tax haven blacklist.  

The European Council updated its list of non-cooperative jurisdictions that do not meet its tax reform requirements on Tuesday, but tax reform advocates say the list is still incomplete.

 The Tax Justice Network released their Financial Secrecy Index on Tuesday, ranking Switzerland and the United States as the top two countries most attractive for tax evaders and money launderers. This is the second time in a row that the US has risen on the index, marking a fall in terms of transparency.