Economics

Britain puts brakes on EU tax haven blacklist push

Britain, one of the country's that screamed the most condemning so-called 'tax havens', has changed its tune eager to protect low tax dependencies such as Bermuda and Guernsey.

09.11.2016

(AFP) EU finance ministers on Tuesday agreed on the criteria to draw up a European blacklist of tax havens, but Britain watered down the proposal, eager to protect low tax dependencies such as Bermuda and Guernsey.

Europeans have struggled to agree on the basis of an EU-wide tax haven blacklist, even after revelations in the Panama Papers and Luxembourg's LuxLeaks so-called 'scandals' shocked the general public on the strategies used by the rich people and big companies to reduce tax bills.