Tuesday’s meeting of the European Union finance ministers (Ecofin) agreed to give some space to EU member states that apply a 0% tax rate by not automatically considering them “tax havens”.

According to Italy’s finance minister Pier Carlo Padoan, the Ecofin meeting was successful in finding “an agreement on the fact that if a jurisdiction applies zero tax rates, making this an indicator of possible unfair practices ...  it would not be enough to define [it as] a jurisdiction [that is] non-coo...

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