By Shravan Bhat| Apr 27, 2013
Some of the smallest countries in the world are the largest tax havens for companies and individuals
US-controlled companies are among many global firms and wealthy individuals (including 612 Indians) around the world who park their profits in well-known tax havens. Money from the US controlled companies alone is often several times more than the GDP of these tiny nations.
Profits for US MNCs as a % of local GDP
British Virgin Islands
An investigative report titled Tax Havens: International Tax Avoidance and Evasion brought out by the US Congressional Research Service in January 2013