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Today's digital tax proposal could help bring EU tax rules into the 21st century, by updating them to the digital economy. However, the European Commission's short-term proposal will not stop tax dodging by big tech firms, and could delay the much-needed global long-term solution.
With a growing EU gray list of tax havens, the EU must make sure countries follow up on their commitments, or else blacklist them, Oxfam said.
Following the Paradise Papers revelations, the European Parliament decided today to establish a new special committee on tax fraud, tax evasion, money laundering, tax avoidance and aggressive tax planning.
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