Seven EU states labelled ‘tax havens’ in new EP report

Article by Kevin Holland, photo from Wikipedia and shared under the creative comms license.

The European Parliament has identified seven EU states as behaving like tax havens, including Ireland and Luxembourg.

The year-long inquiry followed Panama Papers work led by the International Consortium of Investigative Journalists.

The seven member states in full are Ireland, Belgium, Cyprus, Hungary, Malta, the Netherlands, Luxembourg, with all seven being alleged to “display traits of a tax haven and facilitate aggressive tax planning”.

Both the Commission and the Council will come under renewed pressure over their ongoing refusal to recognise that some EU states are indeed tax havens.

Jean-Claude Juncker will certainly be under the spotlight, having served as Luxembourg’s prime minister for many years.

The report calls for action to be taken. Tax avoidance has robbed states of revenues for far too long, and yet states such as the seven named are able to block and water down proposals to combat it.

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