U.A.E., 9 Other Jurisdictions Added to EU Tax-Haven Blacklist
- Updated list also includes Bermuda, Aruba, Oman, Belize, Fiji
- EU ministers agree on update of 2017 ‘name and shame’ list
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European Union finance ministers agreed to add 10 countries to a blacklist of alleged tax havens, including the United Arab Emirates and Bermuda, despite last-minute push-back by some EU nations.
The agreement means the list will now have 15 jurisdictions, triple the number of what it had before the review. It comes just over a year after the EU agreed to “name and shame” a small number of nations as part of its efforts to fight opaque practices that facilitate tax avoidance by multinationals and individuals.