Search results
Results from the WOW.Com Content Network
In July 2012, following a study into wealthy individuals with offshore accounts, the Tax Justice Network published claims regarding deposits worth at least $21 trillion (£13 trillion), potentially even $32 trillion, in secretive tax havens. As a result, governments suffer a lack of income taxes of up to $280 billion. [6] [7] [8]
Offshore tax havens used by individuals and corporations cost governments trillions of dollars annually. ... A Financial Secrecy Index produced by the Tax Justice Network ranks Switzerland and the ...
(↕) Identified on the European Union's first 2017 list of 17 tax havens; the above list contains 8 of the 17. [61] (Δ) Identified on the first, and the largest, OECD 2000 list of 35 tax havens (the OECD list only contained Trinidad & Tobago by 2017); the above list contains 34 of the 35 (U.S. Virgin Islands missing). [29]
While related to tax havens, the FSI is not a list of tax havens per se, and it does not attempt to estimate actual taxes avoided or profits shifted, unlike the techniques used in compilation of modern tax haven lists. The FSI is therefore more correctly a list of financial secrecy jurisdictions. While having many similarities to tax havens ...
At least 366 companies in the Fortune 500 operate one or more subsidiaries in tax haven countries, according to a 2017 report.
The Paradise Papers have also cited Malta among a list of tax havens. However, officials insist that they have complied with EU laws. Though local companies pay a corporate tax rate of 35%, some ...
It addresses tax evasion, tax havens, offshore financial centres, tax information exchange agreements, double taxation and money laundering. In 2000, the Forum published a blacklist of 35 tax havens, which by 2009 had shrunk to zero. It has since focused on increasing the standard for exchange of information.
The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they ...