{"id":2240835,"date":"2026-11-06T05:49:22","date_gmt":"2026-11-06T02:49:22","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2240835"},"modified":"2026-11-06T05:49:22","modified_gmt":"2026-11-06T02:49:22","slug":"uk-tax-havens-linked-to-e8bn-in-eu-tax-losses-who-loses-most","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2240835","title":{"rendered":"UK tax havens linked to \u20ac8bn in EU tax losses: Who loses most?"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/98\/05\/15\/1200x675_cmsv2_e1f3e982-b956-5122-bc0f-df31725409d8-9980515.jpg&#8221;]<\/p>\n<article id=\"abe-2939672-pos1-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2939672\" data-cid=\"9981853\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939672-label-pos1-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/18\/35\/189x106_cmsv2_240710af-ce7a-5be0-9945-7a1b32abb6a3-9981835.jpg\" loading=\"lazy\" alt=\"Ukrainian President Volodymyr Zelenskyy attends the 30th Ibero-American Summit of Heads of State and Government in Madrid, Spain, 5 November 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Zelenskyy urges Latin American leaders to help repair Ukraine&#8217;s power grid\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2939680-pos2-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 the-media-object--has-video\" data-nid=\"2939680\" data-cid=\"9981893\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939680-label-pos2-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/18\/93\/189x106_cmsv2_6f7f44cd-09a5-5a97-a630-bdfe6574e374-9981893.jpg\" loading=\"lazy\" alt=\"Smoke rising from the olive groves after an Israeli military vehicle fired tear gas\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    No Comment<\/p>\n<div class=\"the-media-object__title  \">\n<p>    West Bank: Palestinians harvest olives under Israeli military restrictions\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2939678-pos3-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 the-media-object--has-video\" data-nid=\"2939678\" data-cid=\"9981878\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939678-label-pos3-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/18\/78\/189x106_cmsv2_d2a48ee2-db90-59a4-aab0-5c6245032294-9981878.jpg\" loading=\"lazy\" alt=\"Ukrainian President Volodymyr Zelenskyy attends the second and final day of the 30th Ibero-American Summit of Heads of State and Government in Madrid.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    No Comment<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Spain: Zelensky urges Latin America to help repair Ukraine&#8217;s power grid\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2939631-pos4-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2939631\" data-cid=\"9981709\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939631-label-pos4-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/16\/96\/189x106_cmsv2_ed899007-c2f1-5746-abba-f36e052778eb-9981696.jpg\" loading=\"lazy\" alt=\"Santiago Pe\u00f1a, in a file photo\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Paraguay<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Paraguayan president resigns amid bank collapse\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article class=\"helper-site-row o-article-newsy\">\n<div class=\"helper-site-container o-article-newsy__container\">\n<div class=\"o-article-newsy__main\">\n<header class=\"h-grid o-article-newsy__main__header\">\n<nav aria-label=\"Breadcrumbs\" class=\"c-article-breadcrumbs\">\n<div id=\"adb-article-breadcrumb\" class=\"c-article-breadcrumbs__list\">\n<p>                          Business<\/p>\n<p>                          Business<\/p><\/div>\n<\/nav>\n<h1 class=\"c-article-redesign-title\">\n                            UK tax havens linked to \u20ac8bn in EU tax losses: Who loses most?<\/h1>\n<div class=\"c-article-image-video u-position-relative \">\n<div class=\"js-superdiv u-aspect-ratio-16x9 u-position-relative \" data-controller=\"video-player\" data-sponsored=\"Partner content\"><img fetchpriority=\"high\" decoding=\"async\" class=\"js-poster-img c-article-media__img\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/05\/15\/1536x864_cmsv2_e1f3e982-b956-5122-bc0f-df31725409d8-9980515.jpg\" width=\"1536\" height=\"864\" loading=\"eager\" alt=\"In this Wednesday, March 20, 2013 file photo, government employees take part in a picket and hand out leaflets outside the Customs and Revenue building, (the British tax reven\"><\/div>\n<div class=\"c-article-caption u-position-absolute\"><i id=\"article-caption-content\" class=\"c-article-caption__content\"><span class=\"c-article-caption__text\"><br \/>\n              In this Wednesday, March 20, 2013 file photo, government employees take part in a picket and hand out leaflets outside the Customs and Revenue building, (the British tax reven<br \/>\n                    <span class=\"u-color-white\">&#8211;\u00a0<\/span><span class=\"c-article-caption__copyright\">Copyright\u00a0<\/span><span class=\"c-article-caption__credit\">Copyright 2013 AP. All rights reserved.<\/span><\/span><\/i><\/div>\n<div class=\"c-article-image-copyright c-article-image-copyright--novideo\">\n      Copyright\u00a0Copyright 2013 AP. All rights reserved.\n  <\/div>\n<\/div>\n<\/header>\n<div class=\"h-grid o-article-newsy__main__body u-article-content\">\n<div class=\"o-article-newsy__contributors-publication-date\">\n<div class=\"c-article-contributors\">\n  By&amp;nbspServet Yanatma\n<\/div>\n<div class=\"c-article-publication-date\" data-timestamp=\"1793944162\">\n         Published on<br \/>\n            <time datetime=\"2026-11-06T06:49:22+01:00\">6 November 2026 &#8211; 6:49 GMT+1<\/time><\/div>\n<\/div>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div 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src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-messenger.svg\" width=\"48\" height=\"48\" alt=\"messenger\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"24\" height=\"24\" alt=\"telegram\" loading=\"lazy\"><span>Telegram<\/span><\/span><img decoding=\"async\" src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"48\" height=\"48\" alt=\"telegram\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-vk.svg\" width=\"24\" height=\"24\" alt=\"vk\" loading=\"lazy\"><span>VK<\/span><\/span><img decoding=\"async\" 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src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"48\" height=\"48\" alt=\"threads\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"24\" height=\"24\" alt=\"whatsapp\" loading=\"lazy\"><span>Whatsapp<\/span><\/span><img decoding=\"async\" src=\"https:\/\/www.euronews.com\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"48\" height=\"48\" alt=\"whatsapp\" class=\"u-show-for-desktop\" loading=\"lazy\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"c-article-summary\">\n        EU countries lose nearly \u20ac60bn a year to corporate profit shifting, the Tax Justice Network estimates. It links about \u20ac8bn of those losses to the UK and its tax haven network, even as the UK itself ranks among the countries that lose the most worldwide.<br \/>\n    <\/h2>\n<div class=\"c-article-content c-article-content--business js-article-content\">\n<p>EU countries lose an estimated \u20ac59.3bn a year in tax revenue as multinational companies shift profits across borders, according to the Tax Justice Network. The organisation links about \u20ac8bn of these losses to the UK and its Overseas Territories and Crown Dependencies, equivalent to 13.6% of the EU total.<\/p>\n<div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<p>The UK and these jurisdictions also account for more than 30% of the global corporate tax abuse risk measured by the organisation\u2019s Corporate Tax Haven Index.<\/p>\n<p>Profit shifting can happen when companies record profits in lower-tax jurisdictions rather than where the underlying business activity takes place. This can involve payments between companies within the same group, such as interest or royalties, which reduce taxable profits in higher-tax countries.<\/p>\n<p>The OECD says most such schemes are not illegal, although some are. It says these practices undermine the fairness of tax systems and cost governments an estimated $100bn to $240bn (\u20ac89bn to \u20ac214bn) a year, equivalent to 4% to 10% of global corporate income tax revenue.<\/p>\n<h2>Which EU countries lose the most tax revenue?<\/h2>\n<p>The Tax Justice Network published its analysis alongside the 5 November update to its Corporate Tax Haven Index. The country figures are for 2022 and cover losses linked to multinational companies rather than individuals.<\/p>\n<p>France leads the list with an estimated loss of \u20ac13.1bn in 2022, the latest year for which data are available, followed by Germany at \u20ac11.8bn. Together, they account for \u20ac24.9bn, or 42% of the EU total.<\/p>\n<p>The estimated annual tax loss exceeds \u20ac4bn in Spain (\u20ac4.8bn), Poland (\u20ac4.7bn) and Belgium (\u20ac4.1bn).<\/p>\n<p>The loss is also more than \u20ac3bn in Italy (\u20ac3.6bn), the Netherlands (\u20ac3.5bn) and Luxembourg (\u20ac3.2bn).<\/p>\n<p>It exceeds \u20ac1bn in Ireland (\u20ac2.2bn), Sweden (\u20ac1.6bn) and Austria (\u20ac1.1bn). The loss is below \u20ac1bn in all other EU countries.<\/p>\n<p>Lithuania (\u20ac59mn), Malta (\u20ac61mn), Latvia (\u20ac68mn), Estonia (\u20ac73mn) and Croatia (\u20ac75mn) have the lowest estimated tax losses, all below \u20ac100mn.<\/p>\n<div class=\"c-widget-related\" data-stories-id data-event=\"widget_related\">\n<div class=\"c-widget-related__title\"><b class=\"c-widget-related__title__text\" lang=\"en\">Related<\/b><\/div>\n<ul class=\"c-widget-related__list\" id=\"abe-article-related-1\">\n<li class=\"c-widget-related__item\">Which countries rank best for expat tax, and why is Germany last?<\/li>\n<li class=\"c-widget-related__item\">What do Europeans think about taxing the rich and large multinational companies?<\/li>\n<\/ul>\n<\/div>\n<h2>How much of the EU\u2019s tax loss is linked to UK tax havens?<\/h2>\n<p>The Tax Justice Network says this is the first time it has estimated how much each EU country loses through corporate profit shifting linked to the UK\u2019s network of tax havens. It puts the combined loss at about \u20ac8bn.<\/p>\n<p>France and Germany have the largest estimated losses linked to the UK network. In France, the network is linked to \u20ac2.8bn, or 21.3% of the country\u2019s estimated losses from corporate profit shifting. That is the highest share in the EU. In Germany, the equivalent figures are \u20ac1.4bn and 11.9%.<\/p>\n<p>The estimated losses linked to the UK network are \u20ac570mn for Luxembourg, \u20ac475mn for Spain, \u20ac438mn each for Poland and Italy, and \u20ac415mn for Belgium.<\/p>\n<h2>UK network linked to a third of global corporate tax abuse risk<\/h2>\n<p>The Corporate Tax Haven Index ranks jurisdictions by the risk that their tax rules and financial activity enable multinational corporations to reduce the tax they pay elsewhere. It combines an assessment of laws and regulations with the scale of foreign direct investment entering and leaving each jurisdiction.<\/p>\n<p>Four British jurisdictions rank in the top 10 of the index. The British Virgin Islands, the Cayman Islands and Bermuda rank first, second and third, while Jersey ranks eighth. Two more British jurisdictions, Guernsey and the Isle of Man, rank in the top 20, with the UK in 19th place.<\/p>\n<p>Together, the UK and these six jurisdictions account for 31% of the global corporate tax abuse risk identified by the index.<\/p>\n<p>The index also includes Gibraltar, Anguilla, the Turks and Caicos Islands and Montserrat. Including these four British Overseas Territories brings the combined share to 33.3%.<\/p>\n<p>The Crown Dependencies set their own tax rules, and tax policy in the British Overseas Territories is generally decided locally. The UK retains powers to intervene in the territories, although it rarely legislates on their domestic affairs. <\/p>\n<p>Euronews Business contacted HM Treasury for comment on the findings.<\/p>\n<p>The Tax Justice Network also ranks the UK among the countries with the largest losses from corporate profit shifting. It estimates that the UK itself loses \u00a312.8bn (\u20ac14.7bn) a year as multinationals shift profits to tax havens around the world. This is an annual average for 2018 to 2022.<\/p>\n<p>\u201cThe Corporate Tax Haven Index continues to demonstrate the UK\u2019s oversized role in the landscape of global corporate tax abuse risk. The UK and EU stand to gain the most from the changes the UN tax convention aims to deliver, but they remain opposed to them,\u201d Moran Harari, the Tax Justice Network\u2019s index lead, said in the release.<\/p>\n<p>\u201cThey continue to hold on to the discredited and unscientific fantasy of \u2018tax competition\u2019, but our findings today again confirm that this only leads to a race to the bottom with no winners.\u201d<\/p>\n<p>The organisation said that despite years of international efforts to tackle corporate tax abuse through the OECD, many countries still fail to require companies to disclose the basic information tax authorities need to detect it.<\/p>\n<h2>Global losses rise when wealthy individuals are included<\/h2>\n<p>When wealthy individuals are included, the estimated tax loss is much larger. The State of Tax Justice 2024 report puts global losses at \u20ac416bn ($492bn) a year. This covers both profit shifting by multinational corporations and tax evasion involving undeclared offshore wealth held by wealthy individuals. Companies account for about 71% of the total.<\/p>\n<\/div>\n<p>                                  Go to accessibility shortcuts<\/p>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div id=\"adb-article-you-might-also-like\" class=\"perf-cv-auto c-article-you-might-also-like\">\n<h2 class=\"c-article-you-might-also-like__title\">\n        Read more<br \/>\n      <\/h2>\n<div class=\"c-article-you-might-also-like__container\">\n<article id=\"abe-2837262-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2837262\" data-cid=\"9502854\" data-part-label=\"Partner content\">\n<figure id=\"abe-2837262-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/50\/28\/54\/480x270_cmsv2_3d1a3889-7289-53d3-b36a-c409342373d2-9502854.jpg\" loading=\"lazy\" alt=\"Protestors shout slogans as they hold banners reading &apos;Justice&apos; during a demonstration against austerity measures and the approval of the budget for 2013 by the Spanish govern\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Perceptions of tax fairness in Europe: Are the rich paying their way?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2831919-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2831919\" data-cid=\"9470717\" data-part-label=\"Partner content\">\n<figure id=\"abe-2831919-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/47\/07\/17\/480x270_cmsv2_0d53f678-67bc-511e-a1df-0ae77c2e4a2c-9470717.jpg\" loading=\"lazy\" alt=\"FILE. Protestors hold a banner reading: &quot;Our public health service is not for sale, it\u2019s to be defended!&quot; in Spain in 2012.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Public services vs. tax cuts: What are Europeans willing to sacrifice?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2797790-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2797790\" data-cid=\"9269988\" data-part-label=\"Partner content\">\n<figure id=\"abe-2797790-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/26\/99\/88\/480x270_cmsv2_49d14488-a198-5e03-a705-99583ce32968-9269988.jpg\" loading=\"lazy\" alt=\"View of the city center skyline in Amsterdam, Netherlands, Saturday, Feb. 25, 2023.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Inside the European centres favoured for cross-border tax planning<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto\">\n<ul id=\"adb-article-tags\" class=\"c-tags-list\">\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  United Kingdom<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Euronews Compare<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  tax avoidance<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Tax havens<br \/>\n<\/section>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"tp-vuukle\">\n<div class=\"c-vuukle-skeleton\" aria-hidden=\"true\">\n<div class=\"c-vuukle-skeleton__header\"><span class=\"c-vuukle-skeleton__title\">Comments<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"o-article-newsy__aside\">\n<div class=\"c-ad-wrapper o-article-newsy__aside__content-1\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div id=\"adb-article-top-stories\" class=\"perf-cv-auto c-top-stories\">\n<h2 class=\"c-top-stories__title\">Top stories<\/h2>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2939551-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--no-label\" data-nid=\"2939551\" data-cid=\"9981290\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939551-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/12\/90\/320x180_cmsv2_a7492855-f0f1-54f9-b2f8-6d62acd4cfe5-9981290.jpg\" loading=\"lazy\" alt=\"FILE - The facade of the Bank of England is seen in th London on 2 Nov. 2017.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Bank of England raises key interest rate, first time in over 3 years<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2939481-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--no-label\" data-nid=\"2939481\" data-cid=\"9980883\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939481-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/08\/83\/320x180_cmsv2_081b638c-4716-5939-82a6-569f70c8cdb0-9980883.jpg\" loading=\"lazy\" alt=\"FILE - Artillery shells of German arms manufacturer Rheinmetall are displayed in Unterluess, Germany, Wednesday, 27 Aug. 2025. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Rheinmetall shares plunge 17% after profit warning over order delays<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2939363-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2939363\" data-cid=\"9980360\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939363-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/03\/60\/320x180_cmsv2_703f52a9-6b6e-51d5-83d8-0f6c3d0aef14-9980360.jpg\" loading=\"lazy\" alt=\"A woman shops in the refrigerated section of a supermarket in Montreuil, France, on 14 October 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Food prices in Europe: Where are grocery costs rising fastest?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2939181-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2939181\" data-cid=\"9979390\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939181-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/97\/93\/90\/320x180_cmsv2_37d418c7-3d5c-54a3-bed0-35c7e892a4d0-9979390.jpg\" loading=\"lazy\" alt=\"In this image taken on Tuesday, March 27, 2018, a view of the Rialto bridge, in Venice, Italy. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Eurozone inflation hits 4%: Where prices jumped the most<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2939577-pos6-top-stories\" 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decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-most-viewed\">\n<h2 class=\"c-most-viewed__title qa-section-title\">Most read<\/h2>\n<div class=\"c-most-viewed__list\">\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">1<\/span><\/p>\n<article id=\"abe-2939403-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2939403\" 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class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/www.euronews.com\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/article>\n<article id=\"abe-2837262-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2837262\" data-cid=\"9502854\" data-part-label=\"Partner content\">\n<figure id=\"abe-2837262-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/50\/28\/54\/480x270_cmsv2_3d1a3889-7289-53d3-b36a-c409342373d2-9502854.jpg\" loading=\"lazy\" alt=\"Protestors shout slogans as they hold banners reading &apos;Justice&apos; during a demonstration against austerity measures and the approval of the budget for 2013 by the Spanish govern\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Perceptions of tax fairness in Europe: Are the rich paying their way?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2831919-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2831919\" data-cid=\"9470717\" data-part-label=\"Partner content\">\n<figure id=\"abe-2831919-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/47\/07\/17\/480x270_cmsv2_0d53f678-67bc-511e-a1df-0ae77c2e4a2c-9470717.jpg\" loading=\"lazy\" alt=\"FILE. Protestors hold a banner reading: &quot;Our public health service is not for sale, it\u2019s to be defended!&quot; in Spain in 2012.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Public services vs. tax cuts: What are Europeans willing to sacrifice?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2797790-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1\" data-nid=\"2797790\" data-cid=\"9269988\" data-part-label=\"Partner content\">\n<figure id=\"abe-2797790-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/26\/99\/88\/480x270_cmsv2_49d14488-a198-5e03-a705-99583ce32968-9269988.jpg\" loading=\"lazy\" alt=\"View of the city center skyline in Amsterdam, Netherlands, Saturday, Feb. 25, 2023.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Inside the European centres favoured for cross-border tax planning<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939551-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--no-label\" data-nid=\"2939551\" data-cid=\"9981290\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939551-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/12\/90\/320x180_cmsv2_a7492855-f0f1-54f9-b2f8-6d62acd4cfe5-9981290.jpg\" loading=\"lazy\" alt=\"FILE - The facade of the Bank of England is seen in th London on 2 Nov. 2017.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Bank of England raises key interest rate, first time in over 3 years<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939481-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--no-label\" data-nid=\"2939481\" data-cid=\"9980883\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939481-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/08\/83\/320x180_cmsv2_081b638c-4716-5939-82a6-569f70c8cdb0-9980883.jpg\" loading=\"lazy\" alt=\"FILE - Artillery shells of German arms manufacturer Rheinmetall are displayed in Unterluess, Germany, Wednesday, 27 Aug. 2025. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Rheinmetall shares plunge 17% after profit warning over order delays<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939363-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2939363\" data-cid=\"9980360\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939363-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/98\/03\/60\/320x180_cmsv2_703f52a9-6b6e-51d5-83d8-0f6c3d0aef14-9980360.jpg\" loading=\"lazy\" alt=\"A woman shops in the refrigerated section of a supermarket in Montreuil, France, on 14 October 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Food prices in Europe: Where are grocery costs rising fastest?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939181-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2939181\" data-cid=\"9979390\" data-part-label=\"Partner content\">\n<figure id=\"abe-2939181-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/97\/93\/90\/320x180_cmsv2_37d418c7-3d5c-54a3-bed0-35c7e892a4d0-9979390.jpg\" loading=\"lazy\" alt=\"In this image taken on Tuesday, March 27, 2018, a view of the Rialto bridge, in Venice, Italy. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Eurozone inflation hits 4%: Where prices jumped the most<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939577-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 the-media-object--no-label\" data-nid=\"2939577\" data-cid=\"9981488\" data-part-label=\"Partner content\">\n<figure 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<\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939109-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2939109\" data-cid=\"9979074\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    US midterms: What Trump&#8217;s defeat means for Europe and global markets<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939577-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2939577\" data-cid=\"9981488\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Ueno Bank collapse in Paraguay prompts President Santiago Pe\u00f1a to resign<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939363-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2939363\" data-cid=\"9980360\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Food prices in Europe: Where are grocery costs rising fastest?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2939177-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 the-media-object--no-label\" data-nid=\"2939177\" data-cid=\"9979362\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    BMW profits fall as carmaker warns of possible 2026 loss in car divisi<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<div class=\"articleBody\" data-key=\"articleBody\">EU countries lose an estimated \u20ac59.3bn a year in tax revenue as multinational companies shift profits across borders, according to the Tax Justice Network. The organisation links about \u20ac8bn of these losses to the UK and its Overseas Territories and Crown Dependencies, equivalent to 13.6% of the EU total.The UK and these jurisdictions also account for more than 30% of the global corporate tax abuse risk measured by the organisation\u2019s Corporate Tax Haven Index.Profit shifting can happen when companies record profits in lower-tax jurisdictions rather than where the underlying business activity takes place. This can involve payments between companies within the same group, such as interest or royalties, which reduce taxable profits in higher-tax countries.The OECD says most such schemes are not illegal, although some are. It says these practices undermine the fairness of tax systems and cost governments an estimated $100bn to $240bn (\u20ac89bn to \u20ac214bn) a year, equivalent to 4% to 10% of global corporate income tax revenue.Which EU countries lose the most tax revenue?The Tax Justice Network published its analysis alongside the 5 November update to its Corporate Tax Haven Index. The country figures are for 2022 and cover losses linked to multinational companies rather than individuals.France leads the list with an estimated loss of \u20ac13.1bn in 2022, the latest year for which data are available, followed by Germany at \u20ac11.8bn. Together, they account for \u20ac24.9bn, or 42% of the EU total.The estimated annual tax loss exceeds \u20ac4bn in Spain (\u20ac4.8bn), Poland (\u20ac4.7bn) and Belgium (\u20ac4.1bn).The loss is also more than \u20ac3bn in Italy (\u20ac3.6bn), the Netherlands (\u20ac3.5bn) and Luxembourg (\u20ac3.2bn).It exceeds \u20ac1bn in Ireland (\u20ac2.2bn), Sweden (\u20ac1.6bn) and Austria (\u20ac1.1bn). The loss is below \u20ac1bn in all other EU countries.Lithuania (\u20ac59mn), Malta (\u20ac61mn), Latvia (\u20ac68mn), Estonia (\u20ac73mn) and Croatia (\u20ac75mn) have the lowest estimated tax losses, all below \u20ac100mn.How much of the EU\u2019s tax loss is linked to UK tax havens?The Tax Justice Network says this is the first time it has estimated how much each EU country loses through corporate profit shifting linked to the UK\u2019s network of tax havens. It puts the combined loss at about \u20ac8bn.France and Germany have the largest estimated losses linked to the UK network. In France, the network is linked to \u20ac2.8bn, or 21.3% of the country\u2019s estimated losses from corporate profit shifting. That is the highest share in the EU. In Germany, the equivalent figures are \u20ac1.4bn and 11.9%.The estimated losses linked to the UK network are \u20ac570mn for Luxembourg, \u20ac475mn for Spain, \u20ac438mn each for Poland and Italy, and \u20ac415mn for Belgium.UK network linked to a third of global corporate tax abuse riskThe Corporate Tax Haven Index ranks jurisdictions by the risk that their tax rules and financial activity enable multinational corporations to reduce the tax they pay elsewhere. It combines an assessment of laws and regulations with the scale of foreign direct investment entering and leaving each jurisdiction.Four British jurisdictions rank in the top 10 of the index. The British Virgin Islands, the Cayman Islands and Bermuda rank first, second and third, while Jersey ranks eighth. Two more British jurisdictions, Guernsey and the Isle of Man, rank in the top 20, with the UK in 19th place.Together, the UK and these six jurisdictions account for 31% of the global corporate tax abuse risk identified by the index.The index also includes Gibraltar, Anguilla, the Turks and Caicos Islands and Montserrat. Including these four British Overseas Territories brings the combined share to 33.3%.The Crown Dependencies set their own tax rules, and tax policy in the British Overseas Territories is generally decided locally. The UK retains powers to intervene in the territories, although it rarely legislates on their domestic affairs.Euronews Business contacted HM Treasury for comment on the findings.The Tax Justice Network also ranks the UK among the countries with the largest losses from corporate profit shifting. It estimates that the UK itself loses \u00a312.8bn (\u20ac14.7bn) a year as multinationals shift profits to tax havens around the world. This is an annual average for 2018 to 2022.\u201cThe Corporate Tax Haven Index continues to demonstrate the UK\u2019s oversized role in the landscape of global corporate tax abuse risk. The UK and EU stand to gain the most from the changes the UN tax convention aims to deliver, but they remain opposed to them,\u201d Moran Harari, the Tax Justice Network\u2019s index lead, said in the release.\u201cThey continue to hold on to the discredited and unscientific fantasy of \u2018tax competition\u2019, but our findings today again confirm that this only leads to a race to the bottom with no winners.\u201dThe organisation said that despite years of international efforts to tackle corporate tax abuse through the OECD, many countries still fail to require companies to disclose the basic information tax authorities need to detect it.Global losses rise when wealthy individuals are includedWhen wealthy individuals are included, the estimated tax loss is much larger. The State of Tax Justice 2024 report puts global losses at \u20ac416bn ($492bn) a year. This covers both profit shifting by multinational corporations and tax evasion involving undeclared offshore wealth held by wealthy individuals. Companies account for about 71% of the total.<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.euronews.com\/2026\/11\/06\/uk-tax-havens-linked-to-8bn-in-eu-tax-losses-who-loses-most&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/98\/05\/15\/1200x675_cmsv2_e1f3e982-b956-5122-bc0f-df31725409d8-9980515.jpg&#8221;] Europe News Zelenskyy urges Latin American leaders to help repair Ukraine&#8217;s power grid No Comment West Bank: Palestinians harvest olives under Israeli military restrictions No Comment Spain: Zelensky urges Latin America to help repair Ukraine&#8217;s power grid Paraguay Paraguayan president resigns amid bank collapse Business Business UK tax havens linked to \u20ac8bn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[226,36],"class_list":["post-2240835","post","type-post","status-publish","format-standard","hentry","category-international","tag-crawlmanager","tag-euronews-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2240835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2240835"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2240835\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2240835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2240835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2240835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}