On 5 December 2017, European Union (EU) Council approved and published a list of non-cooperative jurisdictions. Criteria used were:

• Tax Transparency
• Fair Taxation
• Implementation of Anti – BEPS (Base Erosion and Profit Shifting) standards

List of non-cooperative jurisdiction (17 Countries)

American Samoa, Bahrain, Barbados, Grenada, Guam, Korea (Republic of), Macao SAR, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia, and United Arab Emirates

There are other 43 countries which are currently not part of Non Co operative list. These countries are at various level of implementation.  Incase if they are not able to implement Transparency, Fair Taxation or Anti-BEPS Measures, EU Council can move them to Non Cooperative Jurisdiction List in future.

Defensive Measures Implemented for Non Co operative Jurisdictions

• Member States of EU can take measures in tax area as per their national law.
• Non Cooperative Jurisdiction will not be eligible for European Fund for Sustainable Development (EFSD), the EFSD Guarantee and the EFSD Guarantee Fund

Conclusion : No Impact of Trade Finance or Buyers Credit

As seem in above article, none of the defense measure put in place are related to Trade Finance. Thus in the current form, above non cooperative country list will not impact Trade Finance products.

Overseas Banks (Including based in EU) will be able to provide Trade finance product and Buyers Credit for good with country of origin or shipment from above countries.

Reference:

1. Taxation: Council publishes an EU list of non-cooperative jurisdictions 
2. European Fund for Sustainable Development (EFSD), the EFSD Guarantee and the EFSD Guarantee Fund
3. EU list of non-cooperative jurisdictions for tax purposes