SPAIN is among Europe’s worst offenders for helping firms launder money and avoid paying tax.
According to European Network report, 50 Shades of Tax Dodging, Spain is the fourth worst offender behind Luxembourg, Germany and Italy.
The report accuses Spain of conducting the most aggressive tax treaty negotiations with developing countries outside the EU.
It claims Spanish firms avoid paying tax due to state collusion with multi-nationals outside the European trade agreement.
Meanwhile Luxembourg and Germany are accused of knowingly introducing new policies which allow companies to hide the real owners – therefore helping them avoid tax.
At the other end of the scale, Denmark and Slovenia are leading the way for financial transparency by launching fully public registers with information on owners.
The report comes one year after the Luxleaks scandal which revealed how hundreds of international companies were forming illegal tax deals with Luxembourg.