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Every year, member states lose billions in revenue through tax evasion and avoidance. Companies and individuals use loopholes in national, European and international regulations to reduce their tax burden. As is so often the case, the damage is borne by society. Honest entrepreneurs and taxpayers are thus burdened twice. As the countless Lux-, Swiss- or Bahamas-Leaks, the Panama Papers or the FinCEN Files have shown, these are by no means individual cases, but an industry worth billions.
Not only overseas, but also in Europe there are member states like Ireland, Luxembourg or the Netherlands, that profit from these practices. It is time to clearly call out tax havens and to take countermeasures, such as a global/EU-wide minimum tax.