The EU 's efforts to clamp down on tax evasion are being undermined by the rise of high - security ' freeports ' , where wealthy individuals can store goods confidentially to avoid paying taxes . One such facility , which is based in jersey and known as Le Freeport , has been described as a ' black hole ' by members of the labour Parliament . Artworks are believed to be one of the major assets stored in such facilities , with individuals also using their superyachts to prevent paying taxes .
The EU's attempts to clamp down on tax evasion are being undermined by the rise of high-security 'freeports', where wealthy individuals can store goods confidentially to avoid paying taxes. One such facility, which is based in Luxembourg and known as Le Freeport, has been described as a 'black hole' by members of the European Parliament. Artworks are believed to be one of the major assets stored in such facilities, with individuals also using their superyachts to prevent paying taxes.