About: tax havens
World’s 26 richest own as much as 3.8 billion poorest: Oxfam
Billionaire fortunes increased by 12% a day in 2018, while the 3.8 billion poorest people saw their wealth decline by 11% a day, according to a report released by Oxfam to mark the opening of the World Economic Forum (WEF) in Davos.
Third of EU financial secrecy comes from inside its borders, report finds
People or firms in the European Union that wish to keep their financial affairs secret more often find the services they require inside the EU than in one of the tax havens blacklisted by the bloc, the Tax Justice Network (TJN) said on Sunday (23 September).
Tax evasion deprives the EU of 20% of corporate taxes
Economists consider, based on tax havens’ statistics such as Bermuda or Ireland, that 40% of multinational companies' profits avoid taxation. The EU would thus be deprived of a fifth of its income from companies. EURACTIV.fr reports.OpinionPromoted content
Role of investment hubs in global FDI flows: unknown, unloved?
On May 22, the Investment Facilitation Forum (IFF) holds an event that seeks to clarify the role of investment hubs and explore how their activities are linked to the EU tax agenda, financial regulation and the assistance to developing countries. Ahead of the event, the IFF president shares his view on the importance of distinguishing between investment hubs and tax havens.
Campaigners hail ‘significant’ UK move on tax havens
Britain's historic decision to compel its overseas territories to identify the owners of registered companies marks a "significant" moment in the global crackdown on dirty money, campaigners said Wednesday (2 May).
EU now better prepared to tackle tax evasion
Two years after the Panama Papers scandal revealed the scope of tax haven activities, the EU has adopted new legislation and is now better prepared to tackle tax evasion and fraud. EURACTIV’s partner Euroefe reports.
Ireland’s concerns over EU digital tax ‘gaining wider support’
Ireland’s concerns over how the European Union should proceed with taxing large digital businesses are shared by a growing number of countries, Finance Minister Paschal Donohoe said on Monday (5 February).
Swiss see no quick deal on new EU treaty
Switzerland will not meet the European Commission's deadline for a deal in the early part of this year on a new treaty that would bind the neutral country more closely to its biggest trading partner, new Swiss Foreign Minister Ignazio Cassis said.
Uproar over removal of Panama and seven others from EU tax haven blacklist
European Union finance ministers agreed on Tuesday (23 January) to remove eight jurisdictions, including much-criticised Panama, from the bloc’s blacklist of tax havens, one month after the list was set up. The decision prompted an outcry from lawmakers and activists.
MEPs try to add EU member states to the blacklist of tax havens
Socialists (S&D) want to add the Netherlands, Ireland, Luxembourg and Malta to the blacklist of tax havens in the EU during a vote on the report of the committee of inquiry on tax evasion next Tuesday (12 December). EURACTIV France reports.
EU adopts list of 17 tax havens, Panama first to protest
The EU finance ministers adopted yesterday (5 December) a list of “non-cooperative tax jurisdictions”, which is another way to label tax havens.
Ireland makes U-turn, says will collect €13 billion back taxes from Apple
The Irish government has reached an agreement with Apple to start collecting the €13 billion owed by the tech giant, it announced on Monday (4 December).
Turkish opposition leader dangles documents of Erdoğan family off-shore accounts
Kemal Kılıçdaroğlu, the leader of Turkey’s main opposition party CHP (the Republican People’s Party, of social-democratic ideology), accused on Tuesday (28 November) the relatives of the country’s President Recep Tayyip Erdoğan of having off-shore accounts.
Oxfam challenges EU by publishing alternative tax haven list
A week before the Commission is expected to adopt a blacklist of tax havens, anti-poverty organisation Oxfam threw down the gauntlet by publishing its own list of 35 countries, which includes four EU member states and four EU hopefuls from the Western Balkans.
EU tax havens blacklist seen in December, but enforcement unclear
European Union finance ministers called on Tuesday (7 November) for a blacklist of tax havens to be drawn up for approval next month as part of kick back against what it sees as tax dodging by the rich and famous.
EU denounces ‘shocking’ Paradise Papers revelations
The European Union on Monday (6 November) denounced the "shocking" revelations on the way top companies and dignitaries, including Britain's Queen Elizabeth II, avoid taxes using offshore wealth hubs.
Commission moves to tighten tax evasion rules
The European Commission took a further step in fighting cross-border tax evasion on Wednesday (21 June) by proposing tougher new rules for financial intermediaries who design and promote tax planning schemes for their clients.
European Parliament on the fence over tax transparency for multinationals
After a vote on Monday (12 June) by MEPs, European multinationals will be obliged publish details of their activities in every country where they operate. But a number of exemptions could weaken the tax transparency system. EURACTIV France reports.
Multinationals should say what they pay
From an investor’s perspective, planned transparency is far preferable to surprise leaks or investigations into corporate tax avoidance strategies which lead to reputational risk and government crackdown, writes Morris Pearl.
Snap elections over Panama Papers scandal shake up Malta’s EU presidency
Malta's Prime Minister Joseph Muscat yesterday (1 May) called a snap general election for 3 June, bowing to pressure over his family being embroiled in the Panama Papers scandal. Malta is holding the rotating presidency of the EU until 1 July when Estonia will take over.
Oxfam exposes tax haven habits of big European banks
The 20 biggest banks in the eurozone booked over a quarter of their 2015 profits in tax havens, with Luxembourg and Ireland the favourite destinations, a report by Oxfam said on Monday (27 March). EURACTIV France reports.
Member states’ broad definition of tax havens raises concerns
EU finance ministers agreed today (21 February) on criteria that will be used to label tax-free jurisdictions as offshore territories, sparking concerns about the negative impact on EU’s future black-list.
Will Switzerland end up on Brussels’ tax havens blacklist?
The ‘No’ vote in the Swiss referendum on tax reform was a big defeat for the government. Pressure from trading partners and big businesses will force Bern to come up with a new proposal, and fast. Euractiv’s partner La Tribune reports.