The countries dropped from the list, released today as part of its thirteenth annual report, are Hungary, Israel, Lebanon and St Kitts and Nevis. The FATF added that all of them would be closely monitored.
The current list includes: Cook Islands, Dominica, Egypt, Grenada, Guatemala, Indonesia, Marshall Islands, Myanmar, Nauru, Nigeria, Niue, Philippines, Russia, St. Vincent and the Grenadines and Ukraine.
In its report the FATF called on its members to update their advisories and give special attention to businesses and persons undertaking transactions in blacklisted countries and territories.
The body also announced that more than 50 countries had begun a voluntary self-assessment exercise aimed at countering terror financing. This will be used to assess which financial centres lack adequate resources to fight such financing.
FATF president Claire Lo said: ‘We are very encouraged by the participation of non-FATF countries in this exercise and we will work to ensure that countries that have not yet replied to the questionnaire do so by 1 September.’
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today