December 6, 2017 / 2:08 PM / a year ago

UAE needs to apply minimum standards to get off tax blacklist -EU envoy

DUBAI, Dec 6 (Reuters) - The United Arab Emirates will have to do more to address the European Union’s concerns about tax transparency in order to get itself removed from a tax-haven blacklist, the EU’s ambassador to the UAE said on Wednesday.

“The EU has been in touch over the last months with the UAE authorities and the UAE made a certain number of commitments,” Patrizio Fondi said in an email to Reuters.

But he added that the UAE “does not apply the BEPS (base erosion and profit sharing) minimum standards and did not commit to addressing these issues by December 31, 2018.” (Reporting by Nawied Jabarkhyl, Writing by Saeed Azhar; Editing by Andrew Torchia)

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