United States Named Top Global Tax Haven Despite Corporate Transparency Push

By Koos Couvée

The U.S. government's ongoing refusal to automatically supply names, account numbers and other tax-related data across borders and crack down on the illicit use of shell companies has made the United States the world's largest enabler of financial crime, new research has found. After placing second behind the Cayman Islands in 2020, the U.S. edged out Switzerland, Singapore, Hong Kong, Luxembourg and Japan on Tuesday to claim first place in the Tax Justice Network's latest Financial Secrecy Index, a bi-annual ranking of more than 140 countries based on the size of their offshore financial-services sector, willingness to share tax information,...