Tax Justice Network has published a new report

A report of the international study group Tax Justice Network (TJN), dealing with the study of
issues connected with tax evasion and the withdrawal of funds in offshore zones, was published
on Saturday.

In the report have been investigated geographical location and concentration of Bank branches
and the Big 4 firms of accountant, as well as the geographical location of the jurisdiction with a
favorable tax and financial regime.

The researchers came to the conclusion that banks and audit companies try to concentrate their
business in the jurisdictions with a high level of financial secrecy, provided in such territories at
the legislative level. It helps them to increase profits, and in addition, wittingly or unwittingly
avoid the impact of laws.

It is also noted that the concentration of such a large number of banks and audit companies in
one area leads to the fact that the latter have a significant influence on the policy of the state.
This is taking place through the active promotion of laws that serve their interests.

Both of these hypotheses are confirmed in the report by the quantitative and qualitative
evidences.

On the basis: http://www.taxjustice.net/cms/upload/pdf/FSI2012_BanksBig4.pdf

Very informative and interesting report.

Everyone can read the summary and draw his own conclusions.
But I drew attention to four diagrams.

Two of them show the distribution of the top 20 countries with the highest index of financial secrecy, simply - the financial and banking secrets. In the first - indicators about the absolute number of banks in the jurisdiction, in the second - the absolute number of offices of the Big 4 firms of accountant in the jurisdictions.

So: most of the banks are in the Cayman Islands – 234. And here are the offices of a Big 4, more than anything in Cyprus - 16.

The other two diagrams show the same distribution by countries included in the big twenty (G20).

Most banks are in the United States - 7357. Most of all offices of a Big 4 are also in the USA - 350. As always, the United States goes ahead of the whole planet. And also Caiman Islands – financial offshore’s underside of the United States.

This is another confirmation of the fact that offshore will never be removed. The main thing is to use them right.