FINANCIAL SECRECY INDEX 2022:- Guernsey is 10th, UK 13TH, Jersey 19TH Mauritius 55TH and IOM 61ST
It is suggested by the Tax Justice Network [TJN] that FINANCIAL SECRECY facilitates:-
- Tax abuse,
- Enables money laundering, and
- Undermines the human rights of all.
In response the TJN publish an annual “Financial Secrecy Index” [https://fsi.taxjustice.net/] – the index is a ranking of jurisdictions most complicit in helping individuals to hide their finances from the rule of law.
The index identifies the world’s biggest suppliers of financial secrecy and spotlights the laws that governments can change to reduce their contribution to financial secrecy.
How does it work?
- Jurisdictions are ranked by their FSI value to identify the world’s biggest suppliers of financial secrecy.
- A bigger supplier of financial secrecy doesn’t always mean a more secretive jurisdiction.
- Unlike tax haven blacklists which usually only factor in laws, the index more accurately captures how laws and financial activity intersect in the real world to create secrecy.
- For example:- Panama [ranked #18] is more secretive than the UK [ranked #13] but the UK is used far more often as a destination for offshore wealth, making the UK a bigger supplier of secrecy in practice.
FULL METHODOLOGY = https://fsi.taxjustice.net/fsi2022/methodology.pdf
FINANCIAL SECRECY INDEX 2022 = Guernsey is 10th, UK 13TH, Jersey 19TH Mauritius 55TH and IOM 61ST
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