A THIRD OF EU FINANCIAL SECRECY COMES FROM INSIDE ITS BORDERS: REPORT

Reuters on 23rd September reported that people or businesses in the EU that wish to keep their financial affairs secret more often find the services they require inside the EU than in one of the tax havens blacklisted by the bloc, the Tax Justice Network (TJN) has said.  Such services include shell companies and banking secrecy and a third used by individuals or entities inside the EU are sourced from within it, the report said, while just 1% stem from places the EU has blacklisted as tax havens.

https://uk.reuters.com/article/us-europe-financial-secrecy/third-of-eu-financial-secrecy-comes-from-inside-its-borders-report-idUKKCN1M30P8

The report is available at –

https://www.taxjustice.net/2018/09/23/eus-tax-haven-blacklist-blocks-just-1-of-financial-secrecy-services-threatening-eu-economies/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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