abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

20 Apr 2020

Author:
Bill Bostock, Business Insider

Denmark and Poland are refusing to bail out companies registered in offshore tax havens

See all tags

Denmark and Poland are refusing to let companies registered in offshore tax havens access financial aid from their coronavirus bailout packages.

The Danish finance ministry on Saturday extended its bailout program into July but stressed that firms based in tax havens would no longer be covered...

Poland took similar measures on April 8...

[Prime Minister Mateusz Morawiecki said:] "Let's end tax havens, which are the bane of modern economies" ...

It is unclear whether other European nations will follow the example of Denmark and Poland...

"Companies that seek to dodge their obligations to broader society by cutting their tax bills shouldn't expect to get bailed out when things go wrong," Robert Palmer, the executive director at Tax Justice UK, told Business Insider...

"Sustainable, robust public responses to shocks require administrative capacity and tax resources," Rasmus Corlin Christensen, a research associate at the International Centre for Tax and Development [said]...

"Tax avoidance and global tax competition, more broadly, strain the ability of countries to raise those resources." ...

Story Timeline