The authorities of the European Union made a formal proposal to exclude the UAE along with other countries from the black list for taxation.
The authorities of the European Union made a formal proposal to exclude countries such as the United Arab Emirates, Panama, South Korea, Barbados, Grenada, Macau, Mongolia and Tunisia from the black list of countries that need to change tax laws. We remind you that the decision to include the UAE in such a list was made in December last year.
In December 2017, the countries of the European Union decided to create a list that includes a number of countries in which, according to representatives of the European community, the most aggressive tax evasion schemes are applied.
However, after 8 countries adopted amendments to tax legislation, the European Union revised its decision and proposed to remove them from the list. Among such countries were the United Arab Emirates.
This decision is subject to discussion at sessions of the European Union. Experts expect it to be finally adopted after a meeting of finance ministers of the EU member states, scheduled for next week in Brussels.
Analysts do not exclude that the decision to remove a number of countries from the list will be criticized by activists for the transparency of tax legislation. It is worth noting that some representatives of this movement proposed to add to the blacklist European countries such as Luxembourg, Malta, Ireland and the Netherlands.
