EU expands tax blacklist to 15 countries, including UAE

Brussels (AFP)

The European Union expanded its tax haven blacklist to 15 countries on Tuesday, adding the United Arab Emirates and Bermuda over the objections of powerful member states such as Italy.

The list was first drawn up in 2017 in the wake of several scandals, including the Panama Papers and LuxLeaks, that pushed the EU into doing more to fight tax evasion by multinationals and the rich.

Seven countries are to be moved back from a grey list because reform commitments had not been met. These are Aruba, Belize, Bermuda, Fiji, Oman, Vanuatu and Dominica, an EU statement said.

They are joined by three other countries whose tax policies have grown more aggressive in the past months. They are Barbados, the United Arab Emirates and the Marshall Islands.

Italy long resisted the addition of the UAE. The Middle East powerhouse has recently made significant investments in the economically troubled European country.

Rome had wanted

... read more at: https://www.france24.com/en/20190312-eu-expands-tax-blacklist-15-countries-including-uae

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