For the first time, the European Union (EU) list of non-cooperative jurisdictions for tax purposes in combination with the Estonian Income Tax Act may have significant tax consequences for a relevant number of Estonian businesses. There are still Estonian entities that have business relationships (e.g., holdings) with Russia.The Council of the EU put Russia on the updated EU list of non-cooperative jurisdictions, issued 14 February 2023 and published 21 February 2023. This automatically triggers immediate comprehensive tax-related defensive measures in Estonia as of 21 February 2023.Estonian taxpayers should carefully review the impact of the new list to their business relationships...