tax haven blacklist
EU finance ministers have today adopted the first EU blacklist of tax havens. The list includes 17 mostly small countries.
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.
The EU will soon release a blacklist of tax havens operating outside the EU, and issue penalties for those appearing on it. This report shows what a robust blacklist would look like if the EU were to objectively apply its own criteria and not bow to political pressure.
EU finance ministers today discussed the future "EU blacklist" for tax havens.
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.
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.