Photo: Todd VanSickle / AP
British virgin Islands topped the ranking of the most popular tax havens in the world for corporations. A list made up of non-governmental organization Tax Justice Network, which opposes tax evasion, and for fair taxation.
In second place was Bermuda and the Cayman Islands. Also in the top ten included the Netherlands, Switzerland, Luxembourg, Jersey, Singapore, the Bahamas and Hong Kong. Countries were evaluated according to their ease legislation corporations in tax evasion. In total, the Tax Justice Network have studied the legislation of the 64 jurisdictions. Among post-Soviet countries in Estonia (39), Latvia (41st) and Lithuania (52nd).
“Corporations should pay taxes where their employees work and not where hide their chests,” said the organization’s experts. According to their calculations, due to the transition of corporations in a jurisdiction with a low tax rate, a worldwide system of corporate taxation annually loses up to $ 500 billion. While their chosen jurisdiction are encouraged corporations in this.
At the end of 2018, the Federal financial monitoring service as a result of analysis of materials “Panama records” revealed that the British virgin Islands are also a favorite offshore Russian officials.
Video, photo All from Russia.