Financial secrecy continues to flourish, established as a research group Tax Justice Network. In her new ranking of leading tax havens in Switzerland, for her to follow slightly behind the Cayman Islands, Luxembourg, Hong Kong and the USA.
British research group Tax Justice Network (TJN) published its rating of tax havens. Switzerland became the leader of the rating, despite the fact that this country has recently signed an agreement with the OECD on information disclosure. According to TJN, this agreement is "ineffective." The active participation of Switzerland "in the management and use of funds ... and offshore companies, remains a major obstacle to the fight against tax evasion and illegal financial flows." Recall that one of the largest Swiss banks - UBS - was forced to pay the U.S. government $ 780 million after the Justice Department accused the bank of helping its American clients with tax evasion.
The top five biggest tax havens include Switzerland, but the Cayman Islands, Luxembourg, Hong Kong and the United States itself. In the first part of the list of many large European countries - Germany (9th place), UK (13th), Belgium (15th), Austria (17th), Cyprus (20th).
In his blog, the group plans to publish detailed reports on each of the countries included in the top ten. The organization itself calls its report "major investigation" into this field for all times. The rankings take into account the TJN 15 indicators such as the degree of secrecy, the effectiveness of tax legislation and the degree of transparency. "The secrecy is alive and well," says TJN, despite the fact that the G20 summit in 2009 declared that "the era of banking secrecy has passed."
Tax Justice Network - an independent organization established in 2003 at the initiative of the British Parliament. It brings together academics, economists, financial experts, journalists, lawyers and other professionals who study the "secret world of offshore finance," as stated on the website itself TJN.
British research group Tax Justice Network (TJN) published its rating of tax havens. Switzerland became the leader of the rating, despite the fact that this country has recently signed an agreement with the OECD on information disclosure. According to TJN, this agreement is "ineffective." The active participation of Switzerland "in the management and use of funds ... and offshore companies, remains a major obstacle to the fight against tax evasion and illegal financial flows." Recall that one of the largest Swiss banks - UBS - was forced to pay the U.S. government $ 780 million after the Justice Department accused the bank of helping its American clients with tax evasion.
The top five biggest tax havens include Switzerland, but the Cayman Islands, Luxembourg, Hong Kong and the United States itself. In the first part of the list of many large European countries - Germany (9th place), UK (13th), Belgium (15th), Austria (17th), Cyprus (20th).
In his blog, the group plans to publish detailed reports on each of the countries included in the top ten. The organization itself calls its report "major investigation" into this field for all times. The rankings take into account the TJN 15 indicators such as the degree of secrecy, the effectiveness of tax legislation and the degree of transparency. "The secrecy is alive and well," says TJN, despite the fact that the G20 summit in 2009 declared that "the era of banking secrecy has passed."
Tax Justice Network - an independent organization established in 2003 at the initiative of the British Parliament. It brings together academics, economists, financial experts, journalists, lawyers and other professionals who study the "secret world of offshore finance," as stated on the website itself TJN.
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