The European Union has denounced the shocking” revelations on the way top companies and dignitaries, including Britain’s Queen Elizabeth II, avoid taxes using offshore wealth hubs.
EU finance ministers meeting for regular talks in Brussels are due to discuss the practice on Tuesday after a trove of leaked documents exposed the great lengths the global elite will go to avert paying a fair tax.
The findings have emerged as part of the Paradise Papers released late Sunday by the US-based International Consortium of Investigative Journalists (ICIJ), which was behind the similar Panama Papers made public last year.
“This new scandal shows once again that some companies and rich individuals are ready to do anything to not pay tax,” said European Economics Affairs Commissioner Pierre Moscovici ahead of the two days of talks.
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