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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.
A Luxembourg court today overturned the previous guilty verdict imposed on whistleblower Antoine Deltour, who exposed secret deals that enabled multinational companies to avoid paying billions of dollars in tax. Welcoming the decision, Oxfam said whistleblowers are not criminals and governments should do more to implement tax transparency.
The upcoming EU tax haven blacklist has to include at least 35 countries, including notorious tax havens such as Switzerland and Bermuda, in order to be effective, Oxfam finds in a new report published today. The analysis also shows that at least 4 EU countries would be blacklisted if the EU were to apply its own criteria to member states.
Tax havens deprive countries and their citizens of hundreds of billions of dollars, fuelling inequality and poverty. An EU blacklist of tax havens could help tackle that scandal. This interactive map shows the 35 countries that Europe should blacklist, plus 4 EU member states that also fail the the EU's own blacklisting criteria.
Governments must take five immediate steps to stop corporations and the super-rich cheating poor countries out of over $170 billion in tax revenues every year, said Oxfam today in the wake of the P
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.
The 50 biggest US companies, including global brands Pfizer, Goldman Sachs, GE, Chevron, Wal-Mart, and Apple, stashed $1.6 trillion offshore in 2015 – $200 billion more than the previous year - according to a new report by Oxfam.
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.