Juncker’s hidden hand? EU tax haven blacklist omits Luxembourg

   0   0 Blog
Juncker's tax haven gambit

Juncker and tax haven Luxembourg. We won’t tire of repeating this one. Hat tip: David Walch

We have often remarked how international tax haven blacklists generally reflect the political powers and influence of nation states; as a result they tend to include ‘minnows’ but not the big fish. (Among other things, this means a lot of econometric studies resting on a baseline of nonsense.)

So The Guardian‘s headline yesterday illustrates our point exactly. We’ve partly plagiarised its headline Tax haven blacklist omits Luxembourg as Brussels announces reform plans, which kind of tells the whole story. Yesterday’s huge Walmart story involving Luxembourg just emphasises the point.

Now the EU list is here. Note a few other secrecy jurisdictions or tax havens that are absent.

Switzerland, for instance, ranked Number 1 on the Financial Secrecy Index (the only international ranking that does not use political criteria). The United Kingdom, which on some measures is the world’s most important. (They have, at least, tapped several UK Overseas Territories and Guernsey, but not Jersey. Take a look at this on Jersey).  And, finally, what about the United States?

This blog, however, is really just an opportunity to reproduce a graph that we’ve deployed before, highlighting the role of the European Commission president, Jean-Claude Juncker, as the architect of the abusive Luxembourg tax haven. Click to enlarge the graph.

We won’t tire of wheeling this graph out periodically as a reminder of what everyone in Luxembourg tax circles, and many Europeans, already know.

 

 


Related Posts

UN must defend target to curtail multinational companies’ tax abuse

Photo by Luca Santori, Creative Commons LicenseThe Tax Justice Network, The Independent Commission for the Reform of International Corporate Taxation, and the Global Alliance for Tax Justice call on the UN Secretary General to make sure the commitment to action on tax abuses by multinational companies remains part of the new UN Sustainable Development Goals.

READ MORE →

The BVI: Responsible for worldwide tax losses of $37.5 billion a year

BVI report blogAn extraordinary report by consultants Capital Economics, for BVI Finance, claims that the British Virgin Islands are responsible for $1.5 trillion of assets invested around the world, and that these result in 2.2 million jobs and $15 billion in tax revenue. A better approximation would be that the BVI imposes global tax losses of $37.5 […]

READ MORE →

Event: Making Tax Work for Women in the UK and Globally

Invitation_ Tax and Gender eventOn Wednesday 28th June 2017 at 16.30 our very own Liz Nelson will be speaking at an event in London that aims to bring together gender and tax justice advocates to highlight the need for coherent and gender-responsive fiscal policies to safeguard the rights of women and girls both in the UK and globally. The […]

READ MORE →

Historic event on women, human rights and tax justice in Bogota

BogotaLast week civil society organisations, researchers, labour union activists and policy makers met in Bogota, Colombia to explore how tax justice issues can ensure governments, multinational corporations and others meet their obligations to women in order to secure their full range of human rights. The Women’s Rights and Tax Justice conference opened with a conversation […]

READ MORE →

The Offshore Wrapper: the Panama Papers, one year on

Photos from the Protest outside PwC 1 Embankment Place, part of the Global week of action for tax justiceWelcome to the Offshore Wrapper – your weekly update from TJN.  Happy Paniversary! This week it’s been one year since the Panama Papers were leaked, and a number of organisations around the world have been marking the occasion though the global week of action for tax justice. In London, activists from the TJN and the […]

READ MORE →

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top