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corporate tax avoidance
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.
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.
EU governments are on the brink of agreeing a tax haven blacklist that could ensure corporate tax havens face international sanctions for the first time. This is a welcome move if the list includes objective and comprehensive criteria instead of focussing solely on opacity of tax systems, said Oxfam today.
It is a good sign that the European Commission pursues its efforts to put an end to damaging tax deals despite the criticism it faced following the Apple ruling, Oxfam says in reaction to a new state aid investigation into French energy company Engie.
In response to the latest Panama Papers leak that exposes how Africa is being deprived billions of dollars in natural resource revenues due to offshore deals, Winnie Byanyima, Executive Director of Oxfam International, said governments are just not doing enough to stop illicit flows, tax evasion and tax avoidance.