# UK’s ‘tax haven empire’ costs the EU $9 billion a year

- URL: https://talkfuse.com/story/uks-tax-haven-empire-costs-the-eu-9-billion-a-year/
- Published: 2026-11-05T16:40:21+00:00
- Updated: 2026-11-05T18:07:31+00:00
- Original publisher: El País (publisher lean: Left)
- Original article: https://english.elpais.com/economy-and-business/2026-11-05/uks-tax-haven-empire-costs-the-eu-9-billion-a-year.html
- Topics: Europe, UK, World

## Key points

- UK-linked jurisdictions are estimated to cost EU states €8 billion yearly.
- The British Virgin Islands, Cayman Islands and Bermuda top the index.
- France and Germany face the largest losses among EU countries.

## Summary

The Tax Justice Network says UK-linked overseas territories and Crown dependencies are among the world’s most harmful jurisdictions for corporate taxation, costing EU countries about €8 billion ($9 billion) in lost revenue each year. Its latest Corporate Tax Haven Index estimates this impact for the first time and describes the jurisdictions as a network linked to the City of London.

The British Virgin Islands, Cayman Islands and Bermuda rank first, second and third, accounting for 7%, 6.7% and 5.4% of global corporate tax abuse respectively. France and Germany are the most affected EU countries, with estimated annual losses of €1.41 billion and €2.79 billion; the Netherlands, Ireland and Luxembourg also appear in the top 10. The index assesses tax rules and multinational investment flows, while none of its top 10 jurisdictions appear on the EU’s tax blacklist.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.