A new report names and shames 15 of the ‘world’s worst’ tax havens, with the Indian Ocean island nation of Mauritius coming close to bottom on the list.<\/p>\n
Charity organisation, Oxfam<\/a><\/strong>, said that business is dodging tax on an industrial scale, depriving governments across the globe of the money they need to address poverty and invest in healthcare, education and jobs.<\/p>\n The international group has compiled a list of ‘the world\u2019s worst corporate tax havens’ \u2013 “extreme examples of a destructive race to the bottom on corporate tax which has seen governments across the globe slash corporate tax bills in an attempt to attract business,” Oxfam said.<\/p>\n The organisation’s researchers compiled the \u2018world\u2019s worst\u2019 list by assessing the extent to which countries employ the most damaging tax policies, such as zero corporate tax rates, the provision of unfair and unproductive tax incentives, and a lack of cooperation with international processes against tax avoidance – including measures to increase financial transparency.<\/p>\n Oxfam pointed out that many of the countries on the \u2018world\u2019s worst\u2019 list have been implicated in tax scandals.<\/p>\n For example Ireland hit the headlines over a tax deal with Apple that enabled the global tech giant to pay a 0.005 percent corporate tax rate in the country. The British Virgin Islands also recently featured in international news as it was revealed to be the home to more than half of the 200,000 offshore companies set up by Mossack Fonseca – the law firm at the heart of the Panama Papers scandal.<\/p>\n\u00a0Top 15 ‘worst’ tax havens:<\/strong><\/h3>\n
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\n #<\/th>\n Tax haven<\/th>\n Region<\/th>\n<\/tr>\n \n 1<\/td>\n Bermuda<\/td>\n Caribbean<\/td>\n<\/tr>\n \n 2<\/td>\n Cayman Islands<\/td>\n Caribbean<\/td>\n<\/tr>\n \n 3<\/td>\n Netherlands<\/td>\n Europe<\/td>\n<\/tr>\n \n 4<\/td>\n Switzerland<\/td>\n Europe<\/td>\n<\/tr>\n \n 5<\/td>\n Singapore<\/td>\n Southeast Asia<\/span><\/td>\n<\/tr>\n \n 6<\/td>\n Ireland<\/td>\n British Isles<\/td>\n<\/tr>\n \n 7<\/td>\n Luxembourg<\/td>\n Europe<\/td>\n<\/tr>\n \n 8<\/td>\n Cura\u00e7ao<\/td>\n Caribbean<\/span><\/td>\n<\/tr>\n \n 9<\/td>\n Hong Kong<\/td>\n Asia<\/td>\n<\/tr>\n \n 10<\/td>\n Cyprus<\/td>\n Mediterranean<\/span><\/td>\n<\/tr>\n \n 11<\/td>\n Bahamas<\/td>\n Caribbean<\/td>\n<\/tr>\n \n 12<\/td>\n Jersey<\/td>\n British Isles<\/td>\n<\/tr>\n \n 13<\/td>\n Barbados<\/td>\n Caribbean<\/td>\n<\/tr>\n \n 14<\/td>\n Mauritius<\/td>\n Africa<\/td>\n<\/tr>\n \n 15<\/td>\n British Virgin Islands<\/td>\n Caribbean<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n