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European Union’s Struggle with Tax Havens and Profit Drain

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  • Narciz Balasoiu

    (Academy of Economic Studies, Faculty of International Business, Bucharest, Romania)

Abstract

The issue of corporate taxation applied in the jurisdiction in which a company operates has recently received increasing political traction, as tax havens have increasingly drawn attention and also as multinationals have developed colossal turnovers, far above the GDPs of less developed countries. Tax havens deprive of billions of dollars many states that have not established through adequate legislation an assertive fiscal control, generating and fueling social inequities and a high degree of poverty. By funneling money through tax havens to avoid the payment of taxes and fees, multinationals deprive national governments of large sums of money that could be directed to education or health programs.

Suggested Citation

  • Narciz Balasoiu, 2021. "European Union’s Struggle with Tax Havens and Profit Drain," Scientia Moralitas Conference Proceedings 01241, Research Association for Interdisciplinary Studies.
    • Handle: RePEc:smo:scmowp:01241
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    References listed on IDEAS

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    1. Aija Rusina, 2020. "Name and shame? Evidence from the European Union tax haven blacklist," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 27(6), pages 1364-1424, December.
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    More about this item

    Keywords

    tax havens; European Union; tax avoidance; profit shifting;
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