Tax havens deprive countries and their citizens of hundreds of billions of dollars, fuelling inequality and poverty. The EU will soon release a blacklist of tax havens operating outside the EU, and issue sanctions for those listed.
However, power politics means that several significant tax havens could be missing from the list. The blacklist is being drafted in secret, putting citizens in the dark and leaving tax havens free to use their political and economic leverage to get themselves off the EU blacklist.
Oxfam shadowed the EU blacklist, using the EU's own criteria to shine a light on which countries should be on the list if it applied its own criteria objectively, without bowing to political pressure. We also identified the EU countries that would be blacklisted if the EU didn't exclude its own member states from the list.
Explore our interactive map
The list is based on 3 criteria:
- Tax transparency
- Fair taxation (so that large corporations aren't given preferential treatment, for example)
- Participation in international tax forums
Countries that fail any one of these criteria are listed as tax havens.
Oxfam calls on the EU to ensure that effective sanctions are applied to known tax havens. EU governments must put the interests of their people above those of tax havens and multinational corporations if they are going to close the gap between rich and poor.
Take action now
Tax havens are fuelling an inequality crisis that sees 8 people own the same wealth as the poorest half of the planet. We must work together and call on world leaders to end their use, once and for all.