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The current discrepancy of different corporate tax rates per member state (ranging from 12.5 percent in Ireland to 34 percent in France) distorts the internal market competition and creates all forms of 'mini tax heavens' within the EU (Photo: ptmoney.com)

Tax havens: need for an EU response to global problem

The last decades were characterised by significant changes in international financial relations.

Growing financial flows and increasingly sophisticated financial instruments bear witness to the phenomenon.

The mobility of capital on an international and unprecedented degree inspired the phrase 'financial globalisation'.

Financial globalisation is not only characterised by the use of sophisticated financial instruments worldwide, but also the gradual decoupling between fin...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Yannis Karamitsios is co-founder of Alliance4Europe.eu, which is attempting to get three million previous non-voters to vote in the May 2019 European elections, and Elina Morhunova is a international business lawyer based in Vilnius.

The current discrepancy of different corporate tax rates per member state (ranging from 12.5 percent in Ireland to 34 percent in France) distorts the internal market competition and creates all forms of 'mini tax heavens' within the EU (Photo: ptmoney.com)

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Author Bio

Yannis Karamitsios is co-founder of Alliance4Europe.eu, which is attempting to get three million previous non-voters to vote in the May 2019 European elections, and Elina Morhunova is a international business lawyer based in Vilnius.

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