Copyright 2016, Forbesindia.com

Little Nations But Big Tax Havens

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
7.6
Ireland



9.8
Cyprus



18.2
Luxembourg



354.7
British Virgin Islands



546.7
Cayman Islands



339.8
Marshall Islands



645.7
Bermuda



Source:
An investigative report titled Tax Havens: International Tax Avoidance and Evasion brought out by the US Congressional Research Service in January 2013