EU removes UAE, Switzerland from tax haven lists

Major economic partner Switzerland was removed from the grey list covering countries that have committed to change their tax rules to make them compliant with EU standards. — AFP pic
Major economic partner Switzerland was removed from the grey list covering countries that have committed to change their tax rules to make them compliant with EU standards. — AFP pic

LUXEMBOURG, Oct 10 — European Union finance ministers agreed to remove the United Arab Emirates (UAE) and Switzerland from the bloc’s lists of countries deemed to be acting as tax havens, according to a statement today.

At a meeting in Luxembourg, ministers decided to drop UAE from the EU blacklist that covers jurisdictions that have failed to cooperate with the EU on tax matters.

The Marshall Islands has also been removed from that list, which still includes nine extra-EU jurisdictions — mostly islands with little financial relation with the EU.

Major economic partner Switzerland was removed from the grey list covering countries that have committed to change their tax rules to make them compliant with EU standards.



It has delivered on its commitments, the document said, and therefore is no longer listed. — Reuters

Source: The Malay Mail Online





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