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Tax and financial havens: a threat to the EU's internal market

05/03/2012

21 March 2012, 9.30-13.00

 

Tax and financial havens" are territories where lax regulations allow the operation of financial institutions and companies of all type.

The lack of fiscal controls, the existence of weak prudential supervision rules, the opacity of information for the identification of individuals and legal entities, or any other circumstance of a legal or administrative nature, may explain that businesses operating from these territories enjoy almost total impunity and have intolerable competitive advantages, and immunity against the actions of judicial and administrative authorities of third countries.

The event will bring together civil society representatives and policy makers to define lines of action for treating tax and financial havens. The European Economic and Social Committee is currently drawing up an opinion on that topic, and the hearing will provide further insights that will be taken up by the EESC rapporteurs.