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Cyprus, Malta lead EU ranking of $1.6 trillion assets held offshore

FILE PHOTO: European Union flags fly near the European Commission headquarters in Brussels
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BRUSSELS (Reuters) - European Union taxpayers held assets worth at least $1.6 trillion (1.28 trillion pounds) offshore in 2016, equal to nearly 10% of the bloc's output, the European Commission said on Friday, estimating tax revenue losses at around $50 billion a year.In a report, the Commission said taxpayers in the Mediterranean islands of Cyprus and Malta, which both belong to the euro currency..
Date Published: Oct 11, 2019
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