At least two Caribbean Community (CARICOM) countries that had been included in a new list of global tax havens by the European Union could be removed after submitting plans to change their tax rules.

Reuters News agency is reporting that Barbados and Grenada are among eight jurisdictions whom European Union officials have proposed be removed from the blacklist of tax havens.

The other countries likely to be removed are Panama, South Korea, the United Arab Emirates, Macao, Mongolia and Tunisia.

The international news agency, reported that it had viewed the documents to be discussed at a meeting of EU ambassadors on Wednesday, Jan. 17.

The new proposals are expected to be adopted by EU finance ministers when they meet next week in Brussels for monthly talks.

The proposal for the delisting was made by the Code of Conduct Group, which gathers tax experts from the 28 EU member states. It monitors countries’ commitments to abide by EU standards on tax matters.

If the recommendation were confirmed by EU ministers, the eight jurisdictions will be moved to a grey list which includes those who have committed to change their rules on tax transparency and cooperation. The grey list currently includes 47 jurisdictions.