European Union finance ministers are set to remove the United Arab Emirates (UAE...
BRUSSELS - European Union finance ministers are set to remove the United Arab Emirates and Switzerland next week from the bloc’s lists of countries deemed to be acting as tax havens, an EU document said.
That would leave nine jurisdictions on the list. They are: Belize, Fiji, Oman, Samoa, Trinidad and Tobago, Vanuatu and the three U.S. territories of American Samoa, Guam, and the U.S. Virgin Islands.The inclusion of U.S. territories on the list has long been a source of friction with Washington. The tussle could escalate further after a bilateral trade war erupted this week over illegal EU aircraft subsidies.
The Gulf state charges no corporate taxes, making it a possible target for firms seeking to avoid paying tax in the countries where they actually operate. That list includes countries that have inadequate tax standards but have committed to change their rules to make them compliant with EU requirements.
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