The United Arab Emirates entered the world's top 10 tax havens for the first time in March, according to the Tax Justice Network
Tax advantages paired with a life of luxury have long drawn foreigners and multinationals to the UAE, which is aiming to remain attractive whether or not it signs up to a global tax initiative.
The Group of Seven wealthy powers this month endorsed an "unprecedented" agreement on a global minimum corporate tax targeting major companies seen as not paying enough, especially tech giants.
The objective is a minimum tax of at least 15 per cent.
While the agreement is the first step in a long process before it can become a reality, caught in the crosshairs are tax havens that attract firms such as Amazon, Apple, Google and Facebook.
The United Arab Emirates entered the world's top 10 tax havens for the first time in March, according to the Tax Justice Network.
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