The Consequences of UAE & Oman Joining the EU Blacklist

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Middle Eastern law firm Al Tamimi discusses the EU’s blacklisting of the United Arab Emirates and Oman as ‘non-cooperative tax jurisdictions’ and its implications for businesses operating and seeking to invest in the UAE. The report summarises as follows:

EU Members can choose to apply defensive measures against the UAE, Oman and others on the EU blacklist.
Additionally, certain transactions within the EU to the blacklisted countries would trigger a reporting obligation and automatic exchange of information under the EU’s Directive on Administrative Cooperation in the field of taxation as per “DAC6”.