The Polish and Danish governments have announced that they will refuse to furnish companies registered in offshore tax havens with Covid-19 bailouts.
With the Coronavirus lockdown forcing companies, large and small, to seek government support, some governments have informed companies and corporations registered in tax havens such as Cayman Islands, the British Virgin Islands, Panama, Gibraltar, the Bahamas, Andorra and Bermuda they will not be helped.
France is now the most recent country to announce it will also take this approach.
French Finance Minister, Bruno Le Maire, told the France Info radio station on Thursday:
“If a company has its tax headquarters or subsidiaries in a tax haven, I want to say with great force, it will not be able to benefit from state financial aid.”
So far, the Irish government has made no indication it will follow suit and it is unlikely, given its record in dealing with corporations involved in tax avoidance that it will take the same measure despite it being both financially sound and politically expedient.
Tell us your thoughts in the Facebook post and share this with your friends.