UAE ‘disappointed’ at inclusion in EU tax haven blacklist

UAE 'disappointed' at inclusion in EU tax haven blacklist

The United Arab Emirates has expressed disappointment over the country’s inclusion in the European Union’s recent list of non-cooperative tax jurisdiction.

In a statement, the UAE’s Undersecretary of the Ministry of Finance, Younis Haji Al-Khouri, said the country remains committed to maintaining the highest international standards of financial oversight and tax regulation.

He said the UAE will continue to work with international partners to deliver this.

“The UAE is committed to a reform process which will be finalised by October 2018, and we are absolutely confident this will ensure the UAE is swiftly removed from the list,” he said.

Al-Khouri added that the UAE has worked transparently with EU counterparts, since early 2017, to ensure all the criteria laid down by European Union Member States are met.

on air