EU tax committee to focus on Crown Dependencies


(Manx Radio) -- A special committee of the European Union investigating tax avoidance will give 'particular attention' to Crown Dependencies and Overseas Territories.

The body, which has 45 members, has been tasked with focusing on financial crimes, tax evasion, and gaps in the exchange of information between states. 

The first meeting of the special committee, which has a year-long mandate, was held on 22 March.

Its main remit is to examine how EU rules on VAT were 'circumvented' in the schemes and structures exposed by the Paradise Papers last year.

It's singled out Crown Dependencies and Overseas Territories for particular scrutiny.

The issue featured extensively in global media after millions of documents were obtained in a data breach from offshore law firm Appleby, which has offices on the Isle of Man.

VAT arrangements on the import of luxury jets on the island are under investigation by the EU and UK officials.


Hedge funds see huge surge of…