European Union governments adopted a broadened blacklist of tax havens on Tuesda...
BRUSSELS - European Union governments adopted a broadened blacklist of tax havens on Tuesday, adding the United Arab Emirates and British and Dutch overseas territories in a revamp that tripled the number of listed jurisdictions.
EU finance ministers added 10 jurisdictions to the updated list. They are: the Dutch Caribbean island of Aruba, Barbados, Belize, the British overseas territory of Bermuda, Fiji, the Marshall Islands, Oman, the United Arab Emirates, Vanuatu and Dominica. Jurisdictions are blacklisted if they have shortfalls in their tax rules that could favor tax evasion in other states. Those who commit to change the rules by a set deadline are removed from the list.
EU documents seen by Reuters show that Italy and Estonia objected to the new tax haven list, as they opposed the inclusion of the United Arab Emirates. [nL8N20Y24W]
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