Undersecretary of the Ministry of Finance Younis Haji Al-Khouri said that removing the UAE from the EU list of tax havens known as the black list is an acknowledgment of the controls, procedures and laws applied by the state to ensure the sources of the funds it enters and that they come only to establish funds.
Al-Khouri told Emirates Today that the inclusion of the state's name from the outset was not based on sound foundations, but rather because of the belief that any country does not have a tax system that facilitates the income of funds, even if there is no objective such as establishing a business or others. The belief is not true and has been clarified over the past months as the state has clear procedures and laws and clear decisions of the Council of Ministers on allowing access to funds only after confirming their sources and that they came for the purpose of establishing a business.
The EU issued a statement yesterday saying that the UAE has been removed from the tax havens blacklist
It is worth mentioning that the listing was made in January this year and since then the efforts of the Ministry of Finance to clarify the matter resulting in the lifting.