The BVI was blacklisted by the European Union (EU) in 2017 but has since been removed in February 2020. The EU tax haven blacklist is a list consisting of tax jurisdictions that are non-cooperative according to the EU. The BVI was originally added to the list, together with other popular tax havens such as the Cayman Islands and the Bahamas, because of its notoriety for tax evasion cases and tax scandals. However, it was eventually removed from the blacklist in 2020 after it demonstrated compliance with the new legislation enacted in the Economic Substance Act in 2019.