The Tax Justice Network on Tuesday accused the United States, the United Kingdom, Germany, Italy and Japan of torturing global advances in financial transparency. The United States is also at the forefront of countries that help the rich hide their wealth.
Activists have criticized it as helping Russian oligarchy, but also tax evaders, corrupt politicians and organized crime to launder money.
The Tax Justice Network cites the EU estimate that $ 10 trillion dollars has been hidden from the rule of law by the rich through secret deals abroad. This is 2.5 times the value of the dollar and euro bills and currencies in circulation around the world today.
To build their rankings, the team evaluated how easy it is to hide money from other countries under legal circumstances in different states. Each country multiplied the index value by the range of financial services it provides to foreigners.
Accordingly, the global situation has improved slightly over the previous year – this is mainly caused by smaller countries, which are increasingly demanding the disclosure of the real owners of the assets.
In contrast, the United States, Great Britain, Germany, Japan and Italy made no progress. The United States has also deteriorated significantly and is far ahead of Switzerland.
Some U.S. states are known for creating anonymous shell companies and foundations with low taxes and some restrictions. However, during the election campaign, US President Joe Biden took up the cause of greater transparency in the financial world.
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