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15 biggest corporate tax havens in the world, 2016

Bermuda Mega Yachting

15 biggest corporate tax havens in the world, 2016

he Bermuda has been branded as the biggest corporate tax haven in the world, according to Oxfam list. The Cayman Islands, the Netherlands, Switzerland, and Singapore were also named in the top 5. Ireland and Luxembourg were ranked in 6th and 7th place followed by Curacao, with Hong Kong and Cyprus making up the rest of the top 10.

The report, titled “Tax Battles: the dangerous race to the bottom on corporate tax,” defines a “Tax Haven” as a low-tax or no-tax nation with generous tax incentives.

The report also noted that 90% of the world’s biggest companies had a presence in at least one tax haven.

The final 5 were the Bahamas, Jersey, Barbados, Mauritius, and the British Virgin Islands.

The 15 biggest corporate tax havens in the world, 2016

RankCountryCharacteristics
1Bermuda0% corporate income tax (CIT), 0% withholding taxes, lack of participation in multilateral anti-abuse, exchange and transparency initiatives, evidence of large-scale profit shifting.
2Cayman Islands0% CIT, 0% withholding taxes,31 lack of participation in multilateral anti-abuse, exchange and transparency initiatives, evidence of large-scale profit shifting.
3NetherlandsTax incentives, 0% withholding taxes, evidence of large-scale profit shifting.
4SwitzerlandTax incentives, 0% withholding taxes, lack of participation in multilateral anti-abuse and transparency initiatives, evidence of large scale profit shifting.
5SingaporeTax incentives, lack of withholding taxes, evidence of substantial profit shifting.
6IrelandLow CIT, tax incentives, evidence of large scale profit shifting
7LuxembourgTax incentives, 0% withholding taxes, evidence of large scale profit shifting
8CuraçaoTax incentives, 0% withholding taxes, lack of participation in multilateral anti-abuse, exchange and transparency initiatives, evidence of substantial profit shifting.
9Hong KongTax incentives, 0% withholding taxes, evidence of large scale profit shifting.
10CyprusLow CIT, tax incentives, 0% withholding taxes.
11Bahamas0% CIT, 0% withholding taxes, lack of participation in multilateral anti-abuse and transparency initiatives.
12Jersey0% CIT, 0% withholding taxes, evidence of substantial profit shifting.
13BarbadosLow CIT, 0% withholding taxes lack of participation in multilateral anti-abuse and transparency initiatives.
14MauritiusLow CIT, 0% withholding taxes, lack of participation in multilateral anti-abuse and transparency initiatives.
15British Virgin Islands0% CIT, 0% withholding taxes, lack of participation in multilateral anti-abuse and transparency initiatives.

Biggest corporate tax havens in the world 2016 infographic
Photo: Bermuda Mega Yachting by Cosmos Yachting.

Dr. Amarendra Bhushan Dhiraj

Dr. Amarendra Bhushan Dhiraj Verified account

CEO And Editorial Director at CEOWORLD Magazine
Dr. Amarendra Bhushan Dhiraj is the CEO and editorial director at CEOWORLD magazine, the leading global business magazine written strictly for CEOs, CFOs, top managers, company directors, investors, senior executives, business leaders, high net worth individuals, and the most globally powerful men and women.
Dr. Amarendra Bhushan Dhiraj

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