News: Do the corporate tax haven zones implicate the collapse of the global tax system?

The recently published Corporate Tax Haven Index has shown that about ten countries in the world spend almost 52% of global investments and transfers through their offshore jurisdictions. According to the analytical group that conducted the assessment, this result is because the laws of many countries have not yet been modernized and do not take into account the realities of the global economy.

The authors of the rating believe that this Index assesses the tax system of each country based on how to evade payment of corporate tax. After evaluating more than 150 countries, this rating allows you to determine corporate activity in the country, as well as the associated risks. In other words, the higher the level of organizational interactions in tax evasion, the higher the country in the ranking.

Based on these data, the top 10 includes such countries as the British Virgin Islands, Bermuda Islands, the Cayman Islands, the Netherlands, Switzerland, Luxembourg, Jersey (British territory), Singapore, the Bahamas and Hong Kong. Remarkable is the fact that 4 of the indicated 10 are dependent territories or controlled regions of Great Britain.

At the end of the report, the authors noted that the unreliable tax policy of many large countries and led to such a distortion of the flow of unpaid funds that fell into tax jurisdictions. The best decisions would be to change the rules for maintaining records, paying taxes and revising the money laundering policy.

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