EU adds 10 countries to tax blacklist

European Union members on Tuesday expanded its tax haven blacklist by 10 countries.

Aruba, Barbados, Belize, Bermuda, Fiji, Marshall Islands, Oman, the United Arab Emirates, Vanuatu, and Dominica are added to the list.

The listed countries show deficiencies in countering money laundering and terrorism financing.

The additions are the largest review of the list since the EU adopted it in December 2017. Once the blacklisted countries commit to tax rule reforms, they are removed from the list.

Source: VOV5