The Netherlands is world’s biggest conduit to offshore tax havens
This isaccording to researchers at a specialist unit at the University of Amsterdam.
"Only five big countries act as conduit-OFCs," the researchers from Corpnet said in a new report.
"Together these five conduits channel 47% of corporate offshore investment from tax havens, according to the data we analysed."
The two biggest conduits by far are the Netherlands (23%) and the United Kingdom (14%), followed by Switzerland (6%), Singapore (2%) and Ireland (1%).
The researchers set out to identify countries or jurisdictions that play a role in corporate ownership chains incommensurate with the size of their domestic economies.
"Our results show that offshore finance is not the exclusive business of exotic small islands far away.
Countries such as the Netherlands and the United Kingdom play a crucial yet previously hidden role as conduits of offshore finance on its way to tax havens," the researchers said. ■