Documented: The World’s Top Tax Havens and the EU’s pseudo-listi

Documented: The World’s Top Tax Havens and the EU’s pseudo-list

The World’s Top Tax Havens

The UK-based Tax Justice Network’s new Financial Secrecy Index (1) estimates that the ultra-wealthy are hiding up to $32 trillion in tax havens around the world, and while Switzerland gets the top spot on the new list, the U.S. is a not-so-distant second.

Not even major global scandals such as the Panama and Paradise papers have been able to slow the rise of the bigger and better tax havens, as global industry growth has billion-dollar asset owners looking for the ultimate haven to stow away gains.


2 USA The U.S. is on a tear on the competition for the top tax haven spot, rising for the third time in five years, and now capturing the number two slot. In 2015, the U.S. was in third place, and in 2013, it was in sixth.

Between 2015 and 2018, U.S. market share of global offshore financial services rose 14 percent, from 19.6 percent to 22.3 percent.

Delaware, Nevada and Wyoming are the most aggressive tax havens, often described as ‘captured states’.

When it comes specifically to offshore financial services, then, the U.S. now has the largest market share, rivalled only by the City of London, according to FSI, which notes that foreign country elites use the U.S. “as a bolt-hole for looted wealth”.

The baggage is piling up. Take the Delaware tax haven, for instance. It’s housing a company in “good standing” that is used for trafficking children for sex but can’t be shut down because it doesn’t have a physical presence in the state, according to Quartz.

6 Luxembourg

This is a tiny state in the European Union that packs a massive tax haven punch. Despite its size, it is said to control 12 percent of the global market share for offshore financial services. The FSI estimates that its 143 banks are managing assets of around $800 billion.

Luxembourg has a secrecy ranking of 58.

7 Germany

Major tax loopholes and lax enforcement have bumped Germany to number seven on the FSI’s list, despite being one of the world’s biggest economies and not intentionally focusing on global financial services. It corners about 5 percent of market share in the sector, and ranks 59 in terms of secrecy.




2018 Secrecy Ranking

– full index –

1. Switzerland

2. USA

3. Cayman Islands*

4. Hong Kong

5. Singapore

6. Luxembourg

7. Germany

8. Taiwan

9. United Arab Emirates (Dubai)

10. Guernsey*

11. Lebanon

12. Panama

13. Japan

14. Netherlands

15. Thailand

* British overseas territory or crown dependency. If Britain’s network were assessed together, it would be at the top.

Anmerkung m.z.: Anfang Dezember 2017 hatten sich die EU-Finanzminster erstmals auf eine Liste von 17 Steueroasen geeinigt. Eineinhalb Monate später strich das Gremium gleich wieder acht davon (fett gedruckt). Die Unterschiede zur jüngsten Liste des 2018 Secrecy Ranking (Tax Justice Network) sind auffällig.

The EU Tax Haven List (Dec 2017); mid-January 2018 eight tax havens (in bold-type) were annulled.








die Marshallinseln,





St. Lucia,


Trinidad und Tobago,


Vereinigte Arabische Emirate.

financial secrecy index 2018 – Interactive Maps


Please click here to access the interactive overview map


Please click here to access the interactive detailed map

Martin Zeis

globalcrisis/-change News

March 15, 2018

How America’s dysfunctional tax system costs billions in corporate tax dodging – Oxfam Study APRIL 14, 2016

Globalcrisis/globalchange NEWS
Stephan Best 14.04.2016

Pepe Escobar posted today a study by OXFAM-America that shows the tremendous amount of tax dodging by the top 50 US corporations. It’s time to focus this item of the Tax Heaven discussion.
Martin Zeis excerpted some numbers of the study :

Oxfam found that from 2008 – 2014, the top 50 US corporations, cumulatively:

  •  Paid $1 trillion in taxes globally, $412 billion of which was paid to the US federalgovernment;30
  •  Received $11.2 trillion in support in the form of loans, loan guarantees and bailoutassistance from the federal government;31
  •  Made $4 trillion in profits;
  •  Reported an average overall effective tax rate of 26.5%, 8.5% lower than thestatutory rate of 35%;32
  •  Received $337 billion in tax “breaks”;33
  •  Currently hold $1.4 trillion in offshore cash reserves;
  •  Disclosed 1608 subsidiaries in offshore tax havens;34and
  •  Spent $2.6 billion on lobby expenditures.These 50 companies collectively earned $4 trillion in profits from 2008 – 2014, and received approximately $27 in federal government loans, loan guarantees and bailouts for every $1 they paid in federal taxes during that period (figure 2).

    There is no doubt that data from this time frame is shaped heavily by the federal programs, like the auto-bailout and TARP, that were created to deal with the largest economic crisis since the Great Depression. Additionally most loans and bailouts are paid back in full with interest. There are also relevant distinctions to be made between companies and sectors on their tax practices and their receipt of federal support.

    Companies benefit in different ways from federal investments and from tax laws, only some of which are revealed in the data Oxfam analyzed. The data also does not show the value of other forms of federal support that companies receive beyond loans, loan guarantees and bailouts. …

==The study is attached==

ciao Stephan Best

Stephan Best
mail (at)