UAE attracts corporate billions to climb tax-haven ranking

The United Arab Emirates, a magnet for the globe's ultra-rich, has also emerged as one of the fastest-growing corporate tax havens, according to a study released on Tuesday that highlighted US$200 billion-plus flowing into the country.

The index by the Tax Justice Network, which documents countries that attract companies to shrink their tax bills, added the United Arab Emirates to its top-10 ranking, which includes Switzerland and Bermuda.

Britain's offshore territories the British Virgin Islands (BVI), the Cayman Islands and...