Revenue has updated the Tax and Duty Manual titled Securitisation Regulation: Notification of Investment (NOI) following the revision of the EU list of non-cooperative jurisdictions for tax purposes on 26 February 2024. The updated guidance reflects the change from the October 2023 list, and the current listing of relevant Annex II jurisdictions.
Recital 7 of Regulation (EU) 2021/557 explains that an investor in a Securitisation Special Purpose Entity (“SSPE”)1, established after 9 April 2021, in a jurisdiction listed in Annex II of the Council of the European Union’s list of non-cooperative jurisdictions, for the reason of operating a harmful tax regime, should notify the tax authority of the Member State in which it is resident for tax purposes. This information may be used to assess whether the investor derives a tax benefit from such an investment.