Europe's biggest banks profited $27 billion from tax havens
Europeâs largest banks booked $27 billion through tax havens in 2015, a quarter of their profit, amid crackdown on tax avoidance, Oxfam said. The 20 biggest lenders paid no tax on $417 million of profit posted in seven tax havens. Further, bank employees in tax havens appeared to be four times more productive than the average bank employee, Oxfam added.