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CORPNET's top 5 Conduits and top 5 Sinks are 9 of the 10 largest tax havens identified in 2010 by one of the academic founders of tax haven research, James R. Hines Jr. Hines' 2010 list of 10 major tax havens only differs in its omission of the U.K., which in 2010, had only just reformed its corporate tax system. [12]
Offshore tax havens used by individuals and corporations cost governments trillions of dollars annually. Economists estimate that individuals have stashed anywhere from $8.7 trillion to $36 ...
When it calculated the 2015 numbers, they found that corporations and individuals combined sent CAN$40 billion of declared assets to tax havens, and the ten most popular alone now held $270 billion Canadian in assets. [15]
In December 2008, Dharmapala wrote that the OECD process had removed much of the need to include "bank secrecy" in any definition of a tax haven and that it was now "first and foremost, low or zero corporate tax rates", [77] and this has become the general "financial dictionary" definition of a tax haven. [1] [2] [3]
The 2018 launch of automatic sharing of account information has reduced the amount of wealth held in offshore tax havens by a factor of three, the observatory estimated.
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 ...
"Nevada, a Tax Haven for Only $174". The Atlantic. Wayne, Leslie (June 30, 2012). "How Delaware Thrives as a Corporate Tax Haven". The New York Times. "The biggest loophole of all". The Economist. February 20, 2016. Wood, Robert W. (November 3, 2015). "U.S. Ranks As Top Tax Haven, Refusing To Share Tax Data Despite FATCA". Forbes
The International Monetary Fund estimates that tax havens cost governments between $500 billion and $600 billion every year — mostly in corporate tax revenue that they couldn’t collect ...