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Oxfam condemns today’s decision by EU Finance Ministers to delay talks on a European Financial Transaction tax (FTT) until December. 

Over 50 leading financiers have expressed their support for a European Financial Transaction Tax (FTT) ahead of a meeting of Finance Ministers in Brussels next week. In an open letter to European leaders, the financiers argue the FTT will reduce financial instability and raise significant additional government revenue.

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. 

A report by the Greens/European Free Alliance reveals that Inditex, owners of the global fashion retailer Zara, avoided paying €585 million in taxes in Europe between 2011 and 2014.

EU finance ministers today discussed the future "EU blacklist" for tax havens. The proposal says that a 0% tax rate will only be seen as an "indicator" that a particular country or a tax jurisdiction should be screened - but that further analysis will be required before they end up on any blacklist.In reaction, Oxfam’s EU tax expert Aurore Chardonnet said:“It's welcome that the EU now accepts that a 0% tax rate is potentially harmful, but it is more serious than simply being an ‘indicator’ that warrants investigation. A 0% tax…

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.

The European Commission has shown yet again how EU governments grant unfair tax schemes to powerful multinationals, Oxfam said reacting to the opeing of a new investigation into a UK tax scheme that exempts multinational companies from an important anti-tax avoidance measure.

Political leaders must put the interests of the people they represent over corporates and the super-rich if they are going to put a stop to tax scandals, like #ParadisePapers, said Oxfam today.Susana Ruiz, tax policy advisor for Oxfam, said:“Paradise Papers exposes our leaders’ feeble attempts to stop tax cheats. Politicians' tough talk has translated into weak reforms under pressure from big business and the super-rich.“Tax dodging fuels poverty and inequality. When the super-rich and…

Following the release of data on thousands of companies and individuals registered with Appleby, the law firm at the heart of the Paradise Papers scandal, Susana Ruiz, Oxfam’s policy advisor on tax said:“The thousands of companies and individuals exposed by this leak prove tax dodging is not limited to a few bad apples – it is happening on an industrial scale.“Appleby is just one of many offshore companies helping corporations and the super-rich cheat countries out of billions in tax revenues, including an estimated $170 billion from the world’s poorest countries. “…

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.