Bloomberg Tax
March 12, 2019, 2:19 PM

U.A.E., 9 Other Jurisdictions Added to EU Tax-Haven Blacklist

Viktoria Dendrinou
Bloomberg Editorial
Lyubov Pronina
Lyubov Pronina
Bloomberg News

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.

The blacklist “has had a resounding effect on tax transparency and fairness worldwide,” EU ...