17 countries have been named for failing to meet agreed tax good governance standards. The named 
countries are American Samoa; Bahrain; Barbados; Grenada; Guam; South Korea; Macao SAR; Marshall Islands; Mongolia; Namibia; Palau; Panama; Saint Lucia; Samoa; Trinidad and Tobago; Tunisia; United Arab Emirates
In addition, 47 countries have committed to addressing deficiencies in their tax systems and to meet the required criteria, following contacts with the EU.
The purpose of the exercise is to raise the level of tax good governance globally and help prevent the large-scale tax abuse exposed in recent scandals such as the “Paradise Papers”.
The EU has said it will intensify the pressure on listed countries to change their ways. Blacklisted jurisdictions will have to face the consequences in the form of dissuasive sanctions, while those that have made commitments are expected to follow up on them quickly and credibly.
The idea of an EU list was originally conceived by the Commission and subsequently taken forward by Member States. Compilation of the list has prompted active engagement from many of the EU’s international partners.
By the end of 2018 or 2019 for developing countries without financial centres the 47 countries should meet EU criteria to avoid being listed. The Commission also expects Member States to continue towards strong and dissuasive countermeasures for listed jurisdictions which can complement the existing EU-level defensive measures related to funding.
EU member states are not considered for the list, meaning jurisdictions such as Luxembourg, the Netherlands, Ireland, Malta, Cyprus and the UK were not included.
Bermuda, the Cayman Islands, Guernsey, the Isle of Man and Jersey were all among the 47 countries which have committed to addressing issues in their tax systems.
Eight Caribbean countries – Antigua and Barbuda, Anguilla, Bahamas, British Virgin Islands, Dominica, St Kitts and Nevis, Turks and Caicos, US Virgin Islands – were given extra time to respond as a result of hurricanes earlier in the year.
