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Europe’s 20 biggest banks are registering over a quarter of their profits in tax havens – well out of proportion to the level of real economic activity that occurs there, according to a new report by Oxfam and the Fair Finance Guide International today.

Plans for next year's EU budget mean that not the actual needs of people in developing countries will be addressed, but money will be spent on border security to stop migration, Oxfam deplores.

The failure of the OECD’s Development Assistance Committee’s to agree tough new rules governing aid invested in the private sector – so-called private sector instruments – was criticised by Oxfam and the European Network on Debt and Development (Eurodad) today.

EU Finance Ministers have dropped five of the world’s worst tax havens from the EU 'black' and 'grey' list of tax havens published today.

It’s good to see the Commission continue their crackdown on tax avoidance by Europe’s largest companies, but actual reforms towards more tax transparency are needed, Oxfam said in reaction to a decision by the European Commission that declared illegal a tax deal of Luxembourg with the French company Engie.

European Union finance ministers have removed the British territory of Bermuda, Barbados, and the Dutch Caribbean island of Aruba from the EU blacklist of tax havens today.

EU finance ministers failed to agree on a ‘digital services tax’ that would ensure big tech companies pay a minimum level of tax at a meeting today in Brussels. Instead, France and Germany have presented a watered-down new proposal to only tax online advertisements.

Eight of ten Europeans say laws need to change to clamp down on the use of tax havens, a poll published on Tuesday shows.

Following the Paradise Papers revelations, the European Parliament decided today to establish a new special committee on tax fraud, tax evasion, money laundering, tax avoidance and aggressive tax planning. 

Oxfam today gave a cautious welcome to the OECD's plans to open up its tax reform process to developing countries but said more fundamental global tax reforms, beyond BEPS, are still needed to stop corporate tax scandals.