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The European Union has changed “blacklist” of jurisdictions for tax purposes

The European Union has changed “blacklist” of jurisdictions for tax purposes

10 October 2019 the Council of European Union (EU) has made several changes in the list of non-cooperative jurisdictions for tax purposes once again. 2 jurisdictions (United Arab Emirates and Marshall Islands) that was listed previously now have been excluded from the said “blacklist”. This “blacklist” of jurisdictions was designed in December 2017 and included states

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UAE: economic substance requirements

UAE: economic substance requirements

20 June 2019 the information that United Arab Emirates (UAE) have adopted economic substance requirements for companies, mostly similar to ones of offshore jurisdictions like British Virgin Islands, Belize, Cayman Islands and others, has been published on official website of Cabinet of Ministers of the UAE. Economic substance requirements were introduced by Cabinet of Ministers

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