ActionAid Head of Advocacy Ms Charlie Matthews, commenting on the EU list of non-cooperative jurisdictions, said:
“The EU is right to target tax havens but this is a very weak effort which risks letting too many off the hook. These offshore financial centres fuel tax dodging in Europe and in developing countries yet some member states have worked to water down recommendations and UK Ministers have allegedly lobbied to keep UK-linked tax havens like the British Virgin Islands off the blacklist.
“They need to go back to the drawing board and come up with strong criteria to identify the world’s tax havens, including a zero or low corporate tax rate. EU Member States should also take a closer look at a country’s tax treaties, which can help companies slash their tax bills, as part of the identification process. We need clarity so that tough action can be taken to tackle the tax havens which make corporate tax dodging possible.”