From Switzerland to Singapore: The World’s Top Tax Havens
NOVANEWS
By Charles Benavidez
SafeHaven.com
The UK-based Tax Justice Network’s new Financial Secrecy Index estimates that the ultra-wealthy are hiding up to $32 trillion in tax havens around the world, and while Switzerland gets the top spot on the new list, the U.S. is a not-so-distant second.
Not even major global scandals such as the Panama and Paradise papers have been able to slow the rise of the bigger and better tax havens, as global industry growth has billion-dollar asset owners looking for the ultimate haven to stow away gains.
These are the top 10 tax havens in 2018, according to FSI:
#1 Switzerland
Switzerland, a global leader in asset management cornering 28 percent of the market share, is holding an estimated $6.5 trillion, more than half of which comes from abroad...