The organisation Transparency International has once again exposed the questionable tax practices of European banks in a new report published on Tuesday 27 October.
Among the 39 EU and UK banks looked at in the study, 31 were using tax havens between 2015 and 2019, while 29 of them appeared to be declaring high profits in countries where they did not actually employ any staff, the organisation reveals.
“These ‘ghost operations’ may indicate that the banks are shifting their profits to...