EU removes UAE, Switzerland, Mauritius from tax haven lists

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EU removes UAE, Switzerland, Mauritius from tax haven lists
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European Union finance ministers agreed to remove the United Arab Emirates, Swit...

LUXEMBOURG - European Union finance ministers agreed to remove the United Arab Emirates, Switzerland and Mauritius from the bloc’s lists of countries deemed to be acting as tax havens, a move that activists called a “whitewash”.

The Marshall Islands has also been removed from that list, which still includes nine extra-EU jurisdictions - mostly Pacific islands with few financial relations with the EU. The EU does not automatically add countries that charge no tax - a sign of being a tax haven - to its blacklist, but it requested the UAE introduce rules that would allow only companies with a real economic activity there to be incorporated in order to reduce risks of tax dodging.

They also removed the Indian Ocean island of Mauritius, Albania, Costa Rica and Serbia from the gray list, leaving around 30 jurisdictions on the list.

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