Report: EU banks reap billions from VI, others
Report: EU banks reap billions from VI, others
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A new report from the European Union Tax Observatory suggests that European banks are reaping about 14 percent of their total profits — about 20 billion euros a year — from the Virgin Islands and 16 other jurisdictions the report identified as “tax havens.”
The report’s authors say the findings will further bolster the case for a global minimum corporate tax rate proposed by the G20 in August and set for final approval next month.
