Highly developed countries canalise almost 50% of equity flows to tax havens
Worldwide only five countries are responsible for canalising 47% of multinational corporate offshore investments to tax havens. Topping this list, which consists exclusively of highly developed countries, are the Netherlands and the United Kingdom with 23% and 14% of the offshore investment flows, respectively. This is one of the outcomes of a new data-driven analysis of offshore investment flows published by the University of Amsterdam’s CORPNET research group in Scientific Reports on Monday, 24 July.
An Offshore Financial Center (OFC) is a jurisdiction (often a country) that provides corporate and financial services to non-resident companies on a scale that largely exceeds the size of its economy. The CORPNET team draws attention to the popularity among large multinational corporations of using OFCs to move capital across borders and (mostly legally) reduce their tax bills.
Read article
Source: Universiteit van Amsterdam