Malta, which currently heads the European Union's rotating presidency, relies on more than tourism as a source of revenue. Its secretive financial structures and generous tax schemes serve to make it one of the EUs most attractive havens for tax avoidance and money laundering by individuals and corporations and which cost other countries billions of euros in lost revenues, reveals a four-month investigation by Mediapart and its partners in the European Investigative Collaborations journalistic collective (EIC).
Malta, the tiny Mediterranean island state with a population of about 430,000, is one of the lesser-known tax havens within the European Union. Yet each year, its generous corporation tax deprives other countries, and notably other EU member states, of an estimated 2 billion euros in fiscal revenues.
