Little Nations But Big Tax Havens

Image: Sameer Pawar

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