01085nam a2200121   4500100002900000245007400029260002400103520069900127650003000826856008700856942000700943999001300950  aAubry,M and  Dauphin, T.  aOpening the Vaults: The Use of Tax Havens by Europe’s Biggest Banks  bOxfam International  aThe report showcases a research by Oxfam that uses transparency data released by banks, the only sector obliged to publicly report its profits and tax on a country-by-country basis since 2015.All banks based in the European Union have been obliged to report to illustrate the extent to which the top 20 EU banks are using tax havens, and in which ways. Corporations, including banks, have for a long time been artificially shifting their profits to countries with very low, or zero, corporate tax rates. This accounting trick, used to avoid paying tax, is widespread and is evidenced by corporations registering very low profits or even losses in countries that have fairer corporate tax rates.  aTransparency, Tax Havens   uiffoadatabase.trustafrica.org/iff/bp-opening-vaults-banks-tax-havens-270317-en.pdf  cCF  c914d914