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The Netherlands, Ireland, Luxembourg and Cyprus are among the world’s 15 worst corporate tax havens, according to new Oxfam research published today. The report ‘Tax Battles’ reveals a global race to the bottom on corporate tax that is starving countries out of billions of dollars needed to tackle poverty and inequality.

EU finance ministers have today adopted the first EU blacklist of tax havens. The list includes 17 mostly small countries. The EU has also published an additional grey list of countries that currently qualify as tax havens, but have promised reforms.Reacting to the news, Aurore Chardonnet, Oxfam EU policy advisor on inequality and tax, said:“It is disturbing to see mostly small countries on the EU blacklist, while the most notorious tax havens got away on the ‘grey list’.“It seems the EU’s pressure has obliged some of the most notorious tax havens like…

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population combined, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.

The upcoming EU tax haven blacklist has to include at least 35 countries, including notorious tax havens such as Switzerland and Bermuda, in order to be effective, Oxfam finds in a new report published today. The analysis also shows that at least 4 EU countries would be blacklisted if the EU were to apply its own criteria to member states.

It is shameful to see European banks again involved in a major global money laundering scandal. 

EU governments are unwilling to tackle large-scale tax avoidance of multinational companies, Oxfam says in reaction to a new directive formally approved today.

The criteria adopted by EU Finance Ministers for screening countries over tax abuse will be of little to no use in ending the era of tax havens. 

EU governments are on the brink of agreeing a tax haven blacklist that could ensure corporate tax havens face international sanctions for the first time. This is a welcome move if the list includes objective and comprehensive criteria instead of focussing solely on opacity of tax systems, said Oxfam today.

Banks in France are relying heavily on tax havens to increase their profits, according to a study based on new data that for the first time allows a proper analysis of the role that tax havens play in European business.