European Commission Vice-President Valdis Dombrovskis holds a news conference after an European Union finance ministers meeting in Brussels, Belgium March 12, 2019. REUTERS/Francois Lenoir
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European Union governments adopted a broadened blacklist of tax havens Tuesday, adding the United Arab Emirates and British and Dutch overseas territories in a revamp that tripled the number of listed jurisdictions.Most of the so-called non-cooperative jurisdictions on tax matters are small Caribbean and Pacific islands, which rely on tourism and offshore arrangements that supporters consider crucial for global finance.They were given about a year to change tax rules, but have so far not done so, EU officials said.The EU blacklist originally comprised 17 jurisdictions, including the UAE, but shrank to five after most listed states committed to change their tax rules.
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