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Oxfam blasts EU 'tax havens'

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Oxfam blasts EU 'tax havens'

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Oxfam says Ireland, Luxembourg, Malta and the Netherlands should be on the EU’s forthcoming tax haven blacklist.

The NGO has published its own rundown of ‘tax havens’ worldwide, which include 35 countries.

It says these governments must get tough on fiscal fiddling and tax trickery, including shifting profits abroad.

There have been a series of scandals across Europe in recent years that indicate high-wealth individuals and major corporations are taking advantage of lax tax regimes to boost their bottom lines.

The European Commission, the EU’s executive arm that proposes legislation, will release its own list next week.

Sven Gielgold, a German Green MEP, hit out at the use of tax rates cuts to encourage investment.

“There are several member states which apply basically zero percent tax rates or near zero tax rates and they are used by other countries citizens in order to evade taxes. For example one has to say the Maltese, the Luxembourg tax systems, also the Netherlands have elements of a tax haven and therefore we should also say it,” he told euronews.

Oxfam reckons aggressive tax avoidance costs government coffers worldwide some 100 billion euros every single year.