European Initiatives on Eliminating Tax Havens and Offshore Financial Transactions, April 2013

Screenshot 2014-05-28 16.05.30Earlier this year Blomeyer & Sanz presented a study to the European Parliament on the impact of tax havens, secrecy jurisdiction, and similar structures on the EU.

The study concludes that the availability of these structures constrains the EU budget and undermines the fiscal recovery of EU Member States. They distort markets by conferring advantages on large companies that engage in transfer pricing. The study recommends the development of objectively verifiable criteria to identify high risk jurisdictions, combined with mandatory country by country reporting by multinational companies operating in the EU.

Find here the full report