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The EU has whitewashed two of the world’s most harmful tax havens in today's review of the its tax haven list, says Oxfam.

Panama, the Cayman Islands and the Seychelles have rightly been added to the EU tax haven blacklist. However, the list still proves inadequate, said Oxfam today.

EU finance ministers have decided today to remove eight countries from the EU’s blacklist for tax havens, rushing to take countries off the blacklist without it being clear what they have actually committed to improve.

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. 

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.

Research published by the International Consortium of Investigative Journalists today shows that multinational corporations are using the tax haven of Mauritius to avoid paying millions of dollars of tax across Africa.

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.

The weak EU tax haven blacklist is undermining attempts to stop government bailouts going to corporate tax dodgers, said Oxfam, ahead of the publication of a revised EU blacklist tomorrow, 6 October.

Fifty one of the 68 companies that were lent money by the World Bank’s private lending arm in 2015 to finance investments in sub-Saharan Africa use tax havens, Oxfam revealed today.

EU Finance Ministers must ensure countries removed from the tax haven blacklist deliver significant reforms, said Oxfam today, following an announcement that the Caribbean Islands of the Bahamas, and Saint Kitts and Nevis have been taken off the list.