These five countries are conduits for the world's biggest tax havens
Javier Garcia-Bernardo, University of Amsterdam ; Eelke Heemskerk, University of Amsterdam ; Frank Takes, Leiden University , and Jan Fichtner, University of Amsterdam First came the Panama Papers , then the Bahamas-Leaks . Journalists continue to shed light on and raise a public outcry over the offshore financial centres that corporations use to reduce their tax bill – something that is still being challenged in court . A new study has now uncovered all the world’s corporate tax havens and, for the first time, revealed the intermediary countries that companies use to funnel their money into these places. Published on July 24 in the academic journal Scientific Reports , the paper Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network shows that offshore finance is not the exclusive business of exotic, far-flung places such as the Cayman Islands and Bermuda. The Netherlands and the United Kingdom also play a crucial – alt...