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European Union and Tax Havens

Author

Listed:
  • Jacques Fontanel

    (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble - UGA [2016-2019] - Université Grenoble Alpes [2016-2019])

Abstract

Due to economic globalization, tax havens allow owners to place their capital, even virtually, in financial centers that are particularly undemanding in terms of taxation and control over the origin of the funds thus placed. A distinction must be made between tax havens "stricto sensu", regulatory havens, judicial havens and offshore financial centers (OFC). The United Kingdom has the greatest weight in the world, ahead of Switzerland, Luxembourg, Hong Kong, the Cayman Islands, Singapore and the United States. There is even a certain specialization of "tax havens". Until 2010, the United Kingdom or Switzerland were highly recommended by banks, but today investments in Europe are increasingly risky for Europeans themselves. At the initiative of France, a tax of 3% of the turnover (and not the profits) generated by the exploitation of digital activities has been proposed on these companies. However, tax havens" are still very present in the world of financial markets. Most multinational companies use tax havens to optimize their profits. Democracy is clearly in danger.

Suggested Citation

  • Jacques Fontanel, 2019. "European Union and Tax Havens," Post-Print hal-03639241, HAL.
    • Handle: RePEc:hal:journl:hal-03639241
    Note: View the original document on HAL open archive server: https://hal.univ-grenoble-alpes.fr/hal-03639241
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    File URL: https://hal.univ-grenoble-alpes.fr/hal-03639241/document
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    References listed on IDEAS

    as
    1. Fanny Coulomb & Jacques Fontanel, 2012. "War and Capitalism," Post-Print hal-02043794, HAL.
    2. Jacques Fontanel & Natalia Sushcheva, 2019. "La puissance des GAFAM," Post-Print hal-02196915, HAL.
    3. Fanny Coulomb & Jacques Fontanel, 2000. "La puissance des États et la globalisation économique," Post-Print hal-02485620, HAL.
    4. Ron Smith & Jacques Fontanel, 2008. "International security, defence economics and the powers of nations," Post-Print hal-02091131, HAL.
    5. Zucman, Gabriel & Fagan, Teresa Lavender & Piketty, Thomas, 2015. "The Hidden Wealth of Nations," University of Chicago Press Economics Books, University of Chicago Press, number 9780226245423, Febrero.
    Full references (including those not matched with items on IDEAS)

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