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Today, European finance ministers updated the EU tax haven list. The update includes the blacklisting of three additional countries (Anguilla, Bahamas and Turks and Caicos) and the complete delisting of two countries (Bermuda and Tunisia). 

The European Commission today published a proposal setting out plans to increase transparency on tax issues within the European Union.In reaction to the publication, Catherine Olier, Oxfam’s EU policy advisor, said:“While the European Commission is at last aware of the need for corporate tax transparency, it is still not addressing the issue head on. This feeble proposal fails to confront tax dodging by big business, and does nothing to stop sweetheart tax deals, such as those exposed by the recent LuxLeaks scandal.”“By not including country by country…

The European Parliament has voted in favor of legislation - as part of the vote on the Shareholder's Rights Directive - obliging large companies across all sectors to publicly declare their earnings and taxes in the locations they operate – a move Oxfam welcomes.

The true scandal is that most of the schemes used by BASF are legal, and a consequence of fierce tax competition between EU member states, says Oxfam in reaction to the Greens/EFA group report on aggressive tax planning practices of German chemical giant BASF.

The G20 must take necessary steps to reform the international taxation system to stop wealthy tax dodgers, beginning at its Finance Ministers and Central Bank Governors meeting this weekend (22-23 Feb) in Sydney.

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.

Today EU Finance Ministers discussed tax matters, including money laundering and automatic exchange of information between tax authorities.

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.

The governments of Latin America and the Caribbean must implement fiscal reforms that benefit all citizens and not only economic and political elites, according to Oxfam. 

This G7 finance meeting has again been a debate among exclusive club members without the equal participation of developing countries. It’s no wonder that tax issues relevant to poor countries were not addressed.