Humanity has managed to sequence its genome, orbit the Moon, and photograph a black hole, yet it still has not found a way to eliminate tax havens and the schemes multinational corporations use to reduce their tax bills. The United Kingdom’s overseas territories and Crown dependencies rank among the world’s most harmful jurisdictions for corporate taxation and deprive EU member states of some €8 billion ($9 billion) in annual tax revenue, according to the latest update of the Corporate Tax Haven Index published Thursday by the NGO Tax Justice Network. The top 10 also includes three EU member states: the Netherlands, Ireland, and Luxembourg.
UK’s ‘tax haven empire’ costs the EU $9 billion a year
Three countries in the European Union also rank among the top 10 most harmful jurisdictions, according to a report by the Tax Justice Network
