The United Arab Emirates (UAE) yesterday condemned its inclusion in a European Union (EU) tax haven blacklist, official WAM reported.
The Arab world’s second-largest economy was one of 15 countries to be added to the list, despite the UAE’s efforts to meet EU requirements.
“This inclusion was made despite the UAE’s close cooperation with the EU on this issue and ongoing efforts to fulfill all the EU’s requirements,” an Emirati official told WAM, adding that the Emirates had provided the EU with “a detailed timetable, including a series of actions that are being carried out, in line with sovereign legal procedures and constitutional requirements.”
“The UAE will continue to update its domestic legislative framework in this regard,” the official stressed.
The EU blacklist was first drawn up in 2017 in the wake of scandals