3 ms·

It stems more from EU governments generally abhorring tax competition. Cyprus was in too weak a position to negotiate.

• arkitaip 14y ago
  "tax competition" sounds like an euphemism for tax evasion.
  • to3m 14y ago
    Not really. It's more like, say, Ireland's corporation tax being lower than the EU average (though not as low as Cyprus's...), in order to encourage companies to set up there, rather than somewhere else.