The EU’s Tax Haven List: All Process, No Progress

Today, European finance ministers updated the EU tax haven list. They added Brunei Darussalam and removed Costa Rica and Curaçao from the greylist. There were no changes to the blacklist. 

In response, Chiara Putaturo, Oxfam EU tax expert, said: 

"Five years ago, the European Commission promised reforms. Five years later, nothing has changed. Despite new pledges, it seems we are stuck in a cycle of all process and no progress. Meanwhile, big companies and the ultra-wealthy continue to exploit tax havens to avoid paying their fair share.

"Real reform cannot wait. The EU should blacklist any country that allows companies to pay little or no taxes or hide their true owners and thus escape accountability or taxes. The EU should also go one step further and close loopholes that allow the super-rich to avoid paying taxes by stashing their money in tax havens. 

"Around the world – from the UN to the G20 – leaders are calling for action to tax the super-rich more. It is time for the EU to answer that call.

"At the end of the day, this is about fairness. It is about making sure that Europe’s taxpayers are not footing the bill for the super-rich and big companies hiding their wealth offshore."