The EU blacklist remained unchanged and consists of 11 jurisdictions including Russia, which remains on the list from 14 February 2023.

The EU revised its list of non-cooperative jurisdictions for tax purposes on 18 February 2025. The next revision of the list is scheduled for October 2025.

Any dividend, interest and royalty payments made/accrued to corporate taxpayers located in such jurisdictions by a Cyprus tax resident payer are subject to 17%, 17% and 10% withholding tax, respectively. Any interest and royalty payments may also be subject to DAC 6 reporting obligations.

The updated EU list of non-cooperative tax jurisdictions includes countries that have either not engaged in a constructive dialogue with the EU on tax governance or have failed to deliver on their commitments to implement the necessary reforms. Those reforms should aim to comply with a set of objective tax good governance criteria, which include tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.