Índice de secreto financiero

Ciencias económicas

Teoría general
Efecto precio Exceso de carga Incidencia fiscal Curva de Laffer Impuesto óptimo Teorías Fiscalidad óptima sobre la renta del capital
Distribución de impuestos
Tasa de impuesto Departamento Progresivo Regresivo Proporcional

Incumplimiento

General
Evasión de impuestos Evasión de impuestos Resistencia fiscal Paraíso fiscal Contrabando Mercado negro Empleo no declarado
Corporativo
Inversión fiscal Transferencia de precios erróneos Erosión de la base y transferencia de beneficios (BEPS) Doble irlandés Sándwich holandés Malta CAIA / Jersey verde
Ubicaciones
Los paraísos fiscales Paraísos corporativos Centros financieros extraterritoriales (OFC) Círculo mágico costa afuera OFC de conductos y fregaderos Centros financieros Índice de secreto financiero
Ejemplos importantes
Irlanda como paraíso fiscal Irlanda contra Comisión Economía de duendes Asunto fiscal de Liechtenstein Fugas de Luxemburgo Fugas en alta mar Papeles del paraíso Documentos de Panamá Fugas suizas Estados Unidos como paraíso fiscal Panamá como paraíso fiscal

Investigar

Académico
Mihir A. Desai Dhammika Dharmapala James R. Hines Jr. Ronen Palan Joel Slemrod Gabriel Zucman
Grupos de defensa
Red de Justicia Fiscal (TJN) Instituto de Política Fiscal y Económica (ITEP) Oxfam (Reino Unido) Fundación fiscal (EE. UU.) Centro de política fiscal (EE. UU.)

Por país

Todos los países
Lista de países por tipos impositivos Relación entre ingresos fiscales y PIB Tasas impositivas en Europa
Países individuales
Albania Argelia Argentina Australia Azerbaiyán Bangladesh Bután Brasil Bulgaria BVI Canadá porcelana Colombia Croacia Dinamarca Finlandia Francia Alemania Grecia Hong Kong Islandia India Indonesia Iran Irlanda Israel Italia Japón Kazajstán Lituania Malta Marruecos Namibia Países Bajos Nueva Zelanda Noruega Pakistán Palestina Perú Filipinas Polonia Portugal Rusia Singapur Sudáfrica Sri Lanka Suecia Suiza Taiwán Tanzania Emiratos Árabes Unidos Reino Unido Estados Unidos Uruguay

La Red de Justicia Fiscal creó el Índice de Secreto Financiero en 2009 y actualiza el FSI cada dos años

El Índice de secreto financiero ( FSI ) es una puntuación cualitativa de los indicadores de secreto financiero , ponderado por los flujos económicos de cada país. ^[a]

Confusión [ editar ]

Si bien se relaciona con los paraísos fiscales , el FSI no es una lista de paraísos fiscales per se, y no intenta estimar los impuestos evitados o los beneficios desplazados , a diferencia de las técnicas utilizadas en la compilación de listas modernas de paraísos fiscales . Por tanto, el FSI es más correctamente una lista de jurisdicciones de secreto financiero . Si bien tiene muchas similitudes con los paraísos fiscales, el FSI produce algunos resultados que son muy diferentes de las listas de paraísos fiscales establecidas. ^[1]^[2]

El FSI mostró que jurisdicciones como EE. UU. Y Alemania, a pesar de las altas tasas impositivas, contribuyen en gran medida al secreto financiero mundial, ^[3] sin embargo, esto a menudo se malinterpreta en el sentido de que EE. UU. Y Alemania son " paraísos fiscales "; por ejemplo, las empresas extranjeras no se trasladan a Estados Unidos o Alemania para evitar impuestos. ^[4]^[5]^[6] El FSI no captura los paraísos fiscales corporativos modernos , como Irlanda, los Países Bajos y el Reino Unido, que mantienen altos niveles de cumplimiento y transparencia de la OCDE, pero son responsables de la mayor erosión de bases a nivel mundial y actividad de evasión fiscal por transferencia de beneficios (BEPS). ^[7]

Por ejemplo, la reestructura fiscal irlandesa de Apple sobre la " economía de los duendes " en el primer trimestre de 2015, la transacción BEPS más grande de la historia, permaneció desconocida durante años debido a las leyes de protección de datos irlandesas. El problema es la puntuación del FSI para algunas de las herramientas de secreto más favorecidas de los paraísos fiscales modernos (o Conduit OFC ): la compañía de responsabilidad ilimitada ("ULC"), fideicomisos y ciertas estructuras SPV (por ejemplo, QIAIF irlandeses ), ninguna de las que archivan cuentas públicas en paraísos como Irlanda y Reino Unido. ^[8]^[9] El FSI se centra en la propiedad de estas herramientas (por ejemplo, si el propietario de un ULC registrado), versus la visibilidad de las herramientas (por ejemplo, si el ULC paga impuestos). Un ejemplo de esta desconexión fue elLa multa fiscal de 13.000 millones de euros de la UE a los dos CLU irlandeses de Apple en 2016 , ^[b] quienes, aunque conocidos, según la UE estaban evitando grandes cantidades de impuestos irlandeses durante el período 2004-2014.

Historia [ editar ]

El Índice de Secreto Financiero comenzó con 60 jurisdicciones en 2009, pero el último FSI de 2018 ahora se extiende a 112 jurisdicciones. Además de una tabla de clasificación que describe los indicadores de secreto, las ponderaciones de escala global y los valores de FSI, la TJN también produce un informe de secreto por separado sobre cada jurisdicción individual, que proporciona más comentarios y análisis. ^[10] Las publicaciones bienales del FSI se informan ampliamente en los medios generales ^[11]^[12] y financieros, ^[13]^[14] y las puntuaciones del FSI ahora se ven en los informes de la UE. ^{[15] Las} puntuaciones del FSI se utilizan como un indicador de la calidad de los sistemas ALD / CFT en el Índice ALD de Basilea , una herramienta de evaluación del riesgo de lavado de dinero y financiamiento del terrorismo desarrollada por elBasel Institute on Governance.

The 2018 FSI results were released on the Financial Secrecy Index portal,^[16] and they update the 2015 FSI results.^[17]

Financial Secrecy Index, 2020[edit]

One hundred and thirty-three countries and territories were included in the 2020 Financial Secrecy Index.^[18]

Rank	Jurisdiction	FSI - Value6	FSI Share7	Secrecy Score4	Global Scale Weight5
1	Cayman Islands^{[note 1]}	1,575.19	4.63%	76	4.58%
2	United States^{[note 1]}	1,486.96	4.37%	63	21.37%
3	Switzerland^{[note 1]}	1,402.10	4.12%	74	4.12%
4	Hong Kong^{[note 1]}	1,035.29	3.04%	66	4.44%
5	Singapore^{[note 1]}	1,022.12	3.00%	65	5.17%
6	Luxembourg^{[note 1]}	849.36	2.49%	55	12.36%
7	Japan	695.59	2.04%	63	2.20%
8	Netherlands^{[note 1]}	682.20	2.00%	67	1.11%
9	British Virgin Islands^{[note 1]}	619.14	1.82%	71	0.50%
10	United Arab Emirates^{[note 1]}	605.20	1.78%	78	0.21%
11	Guernsey^{[note 1]}	564.56	1.66%	71	0.41%
12	United Kingdom^{[note 1]}	534.65	1.57%	46	15.94%
13	Taiwan^{[note 1]}	507.57	1.49%	66	0.59%
14	Germany^{[note 1]}	499.72	1.47%	52	4.71%
15	Panama^{[note 1]}	479.51	1.41%	72	0.22%
16	Jersey^{[note 1]}	466.81	1.37%	66	0.46%
17	Thailand	448.86	1.32%	73	0.15%
18	Malta	442.20	1.30%	62	0.66%
19	Canada^{[note 1]}	438.38	1.29%	56	1.60%
20	Qatar	433.05	1.27%	77	0.09%
21	South Korea	411.06	1.21%	62	0.55%
22	Bahamas	407.28	1.20%	75	0.09%
23	Algeria	400.56	1.18%	80	0.05%
24	Kenya^{[note 1]}	398.19	1.17%	76	0.08%
25	China	397.25	1.17%	60	0.64%
26	Lebanon^{[note 1]}	385.52	1.13%	64	0.32%
27	Cyprus^{[note 1]}	383.38	1.13%	61	0.48%
28	Kuwait	369.17	1.08%	71	0.12%
29	Ireland^{[note 1]}	363.80	1.07%	48	3.46%
30	Gibraltar	359.89	1.06%	69	0.12%
31	Macao	356.53	1.05%	65	0.22%
32	Malaysia	352.69	1.04%	70	0.12%
33	France	350.53	1.03%	50	2.25%
34	Nigeria	348.53	1.02%	70	0.10%
35	Angola	345.45	1.01%	80	0.03%
36	Austria	317.00	0.93%	56	0.54%
37	Vietnam	299.30	0.88%	74	0.04%
38	Israel	291.49	0.86%	59	0.30%
39	Sri Lanka	290.64	0.85%	72	0.05%
40	Bermuda	289.07	0.85%	73	0.04%
41	Italy	287.80	0.85%	50	1.14%
42	Jordan	260.39	0.76%	78	0.02%
43	Isle of Man	258.34	0.76%	65	0.09%
44	Russia	256.35	0.75%	57	0.26%
45	Saudi Arabia	245.47	0.72%	67	0.06%
46	Egypt	241.93	0.71%	71	0.03%
47	India	238.68	0.70%	48	1.04%
48	Australia	238.07	0.70%	50	0.68%
49	Marshall Islands	236.43	0.69%	70	0.03%
50	Belgium	236.21	0.69%	45	1.72%
51	Mauritius	235.82	0.69%	72	0.03%
52	Liechtenstein	229.68	0.67%	75	0.02%
53	Cameroon	229.23	0.67%	71	0.02%
54	Bangladesh	228.79	0.67%	73	0.02%
55	Turkey	225.72	0.66%	60	0.12%
56	Romania	224.13	0.66%	63	0.08%
57	New Zealand	219.00	0.64%	59	0.12%
58	South Africa	218.59	0.64%	56	0.19%
59	Poland	212.10	0.62%	56	0.19%
60	Philippines	201.18	0.59%	63	0.05%
61	Venezuela	197.00	0.58%	69	0.02%
62	Anguilla	192.99	0.57%	78	0.01%
63	Barbados	192.86	0.57%	74	0.01%
64	Sweden	182.86	0.54%	46	0.71%
65	Latvia	182.83	0.54%	59	0.07%
66	Spain	164.30	0.48%	44	0.72%
67	Czechia	163.30	0.48%	55	0.09%
68	St. Kitts and Nevis	162.25	0.48%	75	0.01%
69	Guatemala	162.15	0.48%	74	0.01%
70	Ukraine	160.45	0.47%	65	0.02%
71	Norway	157.88	0.46%	44	0.60%
72	Morocco	157.49	0.46%	68	0.01%
73	Brazil	157.21	0.46%	52	0.15%
74	Maldives	155.39	0.46%	80	0.00%
75	Hungary	151.52	0.44%	54	0.09%
76	Portugal	151.18	0.44%	54	0.09%
77	Puerto Rico	150.53	0.44%	73	0.01%
78	Tunisia	147.48	0.43%	66	0.01%
79	Indonesia	143.84	0.42%	51	0.13%
80	Mexico	139.81	0.41%	53	0.09%
81	Bahrain	137.99	0.41%	62	0.02%
82	Chile	135.12	0.40%	56	0.05%
83	Costa Rica	132.24	0.39%	62	0.02%
84	Iceland	129.31	0.38%	57	0.03%
85	El Salvador	123.12	0.36%	64	0.01%
86	Samoa	120.86	0.35%	75	0.00%
87	Finland	119.34	0.35%	52	0.06%
88	Paraguay	117.59	0.35%	77	0.00%
89	US Virgin Islands	117.03	0.34%	74	0.00%
90	Uruguay	115.47	0.34%	57	0.02%
91	Bolivia	114.74	0.34%	79	0.00%
92	Turks and Caicos Islands	114.32	0.34%	78	0.00%
93	Croatia	112.33	0.33%	55	0.03%
94	Argentina	109.37	0.32%	55	0.03%
95	Seychelles	108.53	0.32%	70	0.00%
96	Curaçao	103.60	0.30%	75	0.00%
97	Denmark	103.52	0.30%	45	0.14%
98	Tanzania	100.62	0.30%	71	0.00%
99	Rwanda	100.47	0.30%	63	0.01%
100	Pakistan	97.92	0.29%	55	0.02%
101	Peru	96.18	0.28%	57	0.01%
102	Colombia	92.25	0.27%	56	0.01%
103	Greece	91.65	0.27%	51	0.03%
104	Slovakia	91.29	0.27%	51	0.03%
105	Lithuania	89.83	0.26%	50	0.04%
106	Vanuatu	88.59	0.26%	76	0.00%
107	Dominican Republic	86.68	0.25%	59	0.01%
108	Kazakhstan	82.30	0.24%	64	0.00%
109	Monaco	79.90	0.23%	70	0.00%
110	Belize	78.07	0.23%	74	0.00%
111	Liberia	77.59	0.23%	78	0.00%
112	Aruba	76.65	0.23%	73	0.00%
113	Botswana	58.37	0.17%	62	0.00%
114	St. Vincent and the Grenadines	57.72	0.17%	66	0.00%
115	Bulgaria	57.53	0.17%	49	0.01%
116	North Macedonia	54.86	0.16%	64	0.00%
117	Ghana2	54.47	0.16%	52	0.01%
118	Dominica	53.75	0.16%	74	0.00%
119	Montenegro	53.65	0.16%	60	0.00%
120	Ecuador	50.66	0.15%	47	0.01%
121	Estonia	46.03	0.14%	43	0.02%
122	Antigua and Barbuda	39.05	0.11%	76	0.00%
123	Andorra	38.84	0.11%	58	0.00%
124	Gambia	37.72	0.11%	75	0.00%
125	Brunei	34.62	0.10%	78	0.00%
126	Grenada	34.56	0.10%	71	0.00%
127	Trinidad and Tobago	29.63	0.09%	65	0.00%
128	Slovenia	27.48	0.08%	38	0.01%
129	San Marino	20.82	0.06%	60	0.00%
130	Montserrat	15.43	0.05%	75	0.00%
131	Nauru	13.79	0.04%	60	0.00%
132	St. Lucia	12.25	0.04%	71	0.00%
133	Cook Islands	12.09	0.04%	70	0.00%

Notes

^ a b c d e f g h i j k l m n o p q r s t The FSI Value is calculated by multiplying the cube of the Secrecy Score with the cube root of the Global Scale Weight. The final result is divided through by one hundred for presentational clarity.

Financial Secrecy Index, 2018[edit]

One hundred and twelve countries and territories were included in the 2018 Financial Secrecy Index.^[16]

Rank	Country or territory	FSI Value	FSI Share	Secrecy Score	Global Scale Weight
1	Switzerland	1,589.57	5.01%	76	4.50%
2	United States	1,298.47	4.09%	60	22.30%
3	Cayman Islands	1,267.68	4.00%	72	3.79%
4	Hong Kong	1,243.68	3.92%	71	4.17%
5	Singapore	1,081.98	3.41%	67	4.58%
6	Luxembourg	975.92	3.08%	58	12.13%
7	Germany	768.95	2.42%	59	5.17%
8	Taiwan	743.38	2.34%	76	0.50%
9	United Arab Emirates	661.15	2.08%	84	0.14%
10	Guernsey	658.92	2.08%	72	0.52%
11	Lebanon	644.41	2.03%	72	0.51%
12	Panama	625.84	1.97%	77	0.27%
13	Japan	623.92	1.97%	61	2.24%
14	Netherlands	598.81	1.89%	66	0.90%
15	Thailand	550.60	1.74%	80	0.13%
16	British Virgin Islands	502.76	1.59%	69	0.38%
17	Bahrain	490.71	1.55%	78	0.11%
18	Jersey	438.22	1.38%	65	0.38%
19	Bahamas	429.00	1.35%	85	0.04%
20	Malta	426.31	1.34%	61	0.71%
21	Canada	425.84	1.34%	55	1.75%
22	Macao	424.92	1.34%	68	0.24%
23	United Kingdom	423.76	1.34%	42	17.37%
24	Cyprus	404.44	1.28%	61	0.55%
25	France	404.18	1.27%	52	2.52%
26	Ireland	387.94	1.22%	51	2.66%
27	Kenya	378.35	1.19%	80	0.04%
28	China	372.58	1.17%	60	0.51%
29	Russia	361.16	1.14%	64	0.26%
30	Turkey	353.89	1.12%	68	0.14%
31	Malaysia	335.11	1.06%	72	0.07%
32	India	316.62	1.00%	52	1.16%
33	South Korea	314.06	0.99%	59	0.36%
34	Israel	313.55	0.99%	63	0.19%
35	Austria	310.41	0.98%	56	0.56%
36	Bermuda	281.83	0.89%	73	0.04%
37	Saudi Arabia	278.58	0.88%	70	0.05%
38	Liberia	277.29	0.87%	80	0.02%
39	Marshall Islands	275.29	0.87%	73	0.04%
40	Philippines	269.81	0.85%	65	0.09%
41	Italy	254.14	0.80%	49	0.92%
42	Isle of Man	248.68	0.78%	64	0.09%
43	Ukraine	246.25	0.78%	69	0.04%
44	Australia	244.36	0.77%	51	0.61%
45	Norway	242.85	0.77%	52	0.55%
46	Liechtenstein	240.86	0.76%	78	0.01%
47	Romania	232.30	0.73%	66	0.06%
48	Barbados	230.95	0.73%	74	0.02%
49	Mauritius	223.47	0.70%	72	0.02%
50	South Africa	216.44	0.68%	56	0.18%
51	Poland	215.40	0.68%	57	0.15%
52	Spain	213.89	0.67%	48	0.77%
53	Belgium	212.97	0.67%	44	1.56%
54	Sweden	203.55	0.64%	45	1.01%
55	Latvia	195.65	0.62%	57	0.11%
56	Anguilla	195.04	0.62%	78	0.01%
57	Indonesia	188.79	0.60%	61	0.05%
58	New Zealand	178.56	0.56%	56	0.10%
59	Costa Rica	168.78	0.53%	69	0.01%
60	Chile	168.64	0.53%	62	0.04%
61	Denmark	166.12	0.52%	53	0.15%
62	Paraguay	158.52	0.50%	84	0.00%
63	St. Kitts and Nevis	152.55	0.48%	77	0.00%
64	Portugal	151.63	0.48%	55	0.08%
65	Puerto Rico	151.06	0.48%	77	0.00%
66	Vanuatu	149.27	0.47%	89	0.00%
67	Uruguay	148.20	0.47%	61	0.03%
68	Aruba	148.05	0.47%	76	0.00%
69	Dominican Republic	147.09	0.46%	72	0.01%
70	Czech Republic	145.10	0.46%	53	0.09%
71	Finland	142.23	0.45%	53	0.09%
72	Iceland	139.69	0.44%	60	0.03%
73	Brazil	138.00	0.44%	49	0.16%
74	Hungary	132.73	0.42%	55	0.05%
75	Tanzania	128.92	0.41%	73	0.00%
76	Slovak Republic	127.89	0.40%	55	0.05%
77	Seychelles	125.26	0.40%	75	0.00%
78	Guatemala	123.63	0.39%	73	0.00%
79	Croatia	119.36	0.38%	59	0.02%
80	Greece	118.58	0.37%	58	0.02%
81	Samoa	115.90	0.37%	78	0.00%
82	Mexico	107.57	0.34%	54	0.03%
83	Gibraltar	107.44	0.34%	71	0.00%
84	Curacao	105.66	0.33%	75	0.00%
85	Venezuela	105.03	0.33%	69	0.00%
86	US Virgin Islands	101.89	0.32%	73	0.00%
87	Turks and Caicos Islands	98.08	0.31%	77	0.00%
88	Bolivia	94.82	0.30%	80	0.00%
89	Bulgaria	91.38	0.29%	54	0.02%
90	Belize	86.30	0.27%	75	0.00%
91	Brunei	85.60	0.27%	84	0.00%
92	Monaco	82.93	0.26%	78	0.00%
93	Estonia	79.47	0.25%	51	0.02%
94	Maldives	74.87	0.24%	81	0.00%
95	Ghana	68.85	0.22%	62	0.00%
96	Dominica^†	62.02	0.20%	77	0.00%
97	Lithuania	58.75	0.19%	47	0.02%
98	Antigua and Barbuda	54.53	0.17%	87	0.00%
99	Montenegro	52.64	0.17%	63	0.00%
100	Cook Islands	44.97	0.14%	75	0.00%
101	Grenada	44.61	0.14%	77	0.00%
102	Macedonia	39.76	0.13%	61	0.00%
103	Botswana	39.45	0.12%	69	0.00%
104	Slovenia	35.32	0.11%	42	0.01%
105	Andorra	35.05	0.11%	66	0.00%
106	Gambia	34.51	0.11%	77	0.00%
107	Trinidad and Tobago	27.86	0.09%	65	0.00%
108	Nauru	26.32	0.08%	67	0.00%
109	San Marino	24.31	0.08%	64	0.00%
110	St. Lucia	21.52	0.07%	78	0.00%
111	St. Vincent and the Grenadines	21.38	0.07%	70	0.00%
112	Montserrat	16.53	0.05%	78	0.00%

United Kingdom, Crown Dependencies, and British Overseas Territories

Independent countries (plus one associated state) under the jurisdiction of the Judicial Committee of the Privy Council

^† Dominica abandoned the JCPC in March 2015

Methodology[edit]

The process starts with the collation of a large database of 20 qualitative factors that look at "Secrecy Indicators" (SI), which are a jurisdiction's ownership registration, legal entity transparency, tax and financial regulation and international co-operation and treaties, to assess how secretive it is. The higher the SI score, the more secretive the jurisdiction to financial activities.^[19] The highest 2018 SI score was 89 for Vanuatu, and the joint lowest was 42 for the United Kingdom and Slovenia. To understand the scale of the contribution of jurisdictions, these SI scores are adjusted by a "Global Scale Weight" (GSW), which is quantitatively estimated from IMF Balance of Payments data, to get the "FSI Value". In this way, jurisdictions with very high SI scores but small financial flows (i.e. Vanuatu), can be compared with jurisdictions with lower SI scores but bigger financial flows (i.e. Luxembourg).^[20] The largest global financial centres as well a major conduit ofcs feature high on this list.

Since Financial Secrecy Index has been created on purpose to measure contribution of jurisdictions to the global problem of financial secrecy, the FSI value represents the secrecy score for each jurisdiction weighed by the size of each jurisdiction's share of the global market for financial services provided to non-resident clients:

FSI_{i}=GSW_{i}^{1/3}\times SS_{i}^{3}{,}

where $GSW_{i}$ is Global Scale Weight of jurisdiction and $SS_{i}$ is Secrecy Score of jurisdiction.^[21]

Secrecy Indicator Scores[edit]

Secrecy Scores are based on Key Financial Secrecy Indicators, which measure secrecy in different dimensions, such as ownership registration, legal entity transparency, integrity of tax and financial regulation and international standards and cooperation. Secrecy Score for each jurisdiction is obtained by taking the arithmetic average of the 20 Key Financial Secrecy Indicators:^[21]

SS_{i}={\frac {\sum _{k=1}^{20}{KFSI_{k}}}{20}}{.}

Dimension of secrecy	Key Financial Secrecy Indicator	What is measured
Ownership Registration	Banking secrecy	Existence and availability of relevant banking information (including the maintenance of records on transactions for at least 5 years), the possibility of imprisonment or custodial sentencing for breaching banking secrecy.
	Trusts and Foundations Register	Completeness and availability of information on all trusts and private foundations (including information on the true beneficial ownership).
	Recorded Company Ownership	Сompleteness and relevance of information regarding both legal and beneficial ownership.
	Other Wealth ownership	Ownership transparency of real estate and of valuable assets (art, precious stones, antiquities, cash, gold bars, wines and classic cars) stored in freeports.
	Limited Partnership Transparency	Completeness and availability of information regarding legal and beneficial ownership and annual accounts of limited partnerships.
Legal Entity Transparency	Public Company Ownership	Completeness and availability of information on legal and beneficial ownership for all available types of companies with limited liability.
	Public Company Accounts	Accessibility of annual accounts of all available types of companies with limited liability.
	Country by Country Reporting	Completeness of financial information on global action on a country-by-country basis published by the companies listed on the stock exchanges or incorporated in a given jurisdiction.
	Corporate Tax Disclosure	Requirements for filling CbC reports by multinational corporations (including those whose head office is not in the given jurisdiction) and accessibility of all unilateral cross-border tax rulings.
	Legal Entity Identifier	Requirements for usage and updating Legal Entity Identifier.
Integrity of tax and financial regulation	Tax Administration Capacity	Capacity of jurisdiction to collect and process data for investigating and ultimately taxing large taxpayers and high-net-worth individual.
	Consistent Personal Income Tax	Complexity of Personal Income Tax regime and rules on citizenship/residency acquisition.
	Avoids Promoting Tax Evasion	Whether a jurisdiction includes worldwide capital income in its income tax base and if it grants unilateral tax credits for foreign tax paid on certain foreign capital income.
	Tax Court Secrecy	Openness of a jurisdiction's judicial system in civil and criminal tax proceedings.
	Harmful Structures	Availability of large banknotes (of value greater than 200 EUR/GBP/USD), unregistered bearer shares, series LLCs or protected cell companies(PCC) and trusts with flee clauses.
	Public Statistics	Availability of relevant statistical datasets about jurisdiction's international financial, trade, investment, and tax position.
International Standards and Cooperation	Anti-Money Laundering	Extent of compliance with the recommendations of the Financial Action Task Force.
	Automatic Information Exchange	Whether jurisdictions have signed the Multilateral Competent Authority Agreement and engage in a pilot project to assist developing countries.
	Bilateral Treaties	Level of jurisdiction's participation into efficient information exchange relationships conforming to the 'upon request' standard developed by the OECD and the Global Forum.
	International Legal Cooperation	Extent to which a jurisdiction participates in international transparency commitments and engages in international judicial cooperation on money laundering and other criminal matters.

Global Scale Weights[edit]

Global Scale Weights represent the relative importance of each jurisdiction regarding its share of offshore financial services activity in the global total and measure a potential for each jurisdiction to contribute to the global problem of financial secrecy. GSW is defined as a proportion of the export value of financial services of each jurisdiction represented in FSI in the aggregated export value of financial services in 231 jurisdictions where export values were established.

GSW_{i}={\frac {{\text{𝐸𝑥𝑝𝑜𝑟𝑡𝑠 of 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠}}_{i}}{\text{𝑆𝑢𝑚 𝑜𝑓 𝑔𝑙𝑜𝑏𝑎𝑙 𝑒𝑥𝑝𝑜𝑟𝑡𝑠 𝑜𝑓𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑠𝑒𝑟𝑣𝑖𝑐𝑒𝑠}}}{.}

For the 154 jurisdictions(including the 85 represented in FSI), data on exports of financial services provided by IMF's Balance of Payments Statistics has been used. For the remaining 77 jurisdictions(including the 27 represented in FSI), the export value of financial services has been received by extrapolating from data on stocks of internationally held financial assets.^[21]

Notes[edit]

^ Because of the weighting of the financial secrecy indicators, the FSI is often mislabeled as a quantitative index; however it is a qualitative index
^ Apple Sales International ("ASI"), and Apple Operations Europe ("AOE")

References[edit]

^ "Leading economies blamed for fiscal secrecy by Tax Justice Network". Financial Times. 30 October 2009.
^ "Lifting the Veil - An index of financial secrecy". The Economist. 6 November 2013.
^ "U.S.The mega-haven". The Economist. 5 November 2015.
^ Jesse Drucker (27 January 2016). "The World's Favorite New Tax Haven Is the United States". Bloomberg.com.
^ Wood, Robert W. (27 January 2016). "The World's Next Top Tax Haven Is...America". Forbes. Retrieved 7 June 2016.
^ Swanson, Ana (5 April 2016). "How the U.S. became one of the world's biggest tax havens". The Washington Post. Retrieved 23 April 2016.
^ "Ireland is the world's biggest corporate 'tax haven', say academics". The Irish Times. 13 June 2018. New Gabriel Zucman study claims State shelters more multinational profits than the entire Caribbean
^ "New report: is Apple paying less than 1% tax in the EU?". Tax Justice Network. 28 June 2018. The use of private "unlimited liability company" (ULC) status, which exempts companies from filing financial reports publicly. The fact that Apple, Google and many others continue to keep their Irish financial information secret is due to a failure by the Irish government to implement the 2013 EU Accounting Directive, which would require full public financial statements, until 2017, and even then retaining an exemption from financial reporting for certain holding companies until 2022
^ "Ireland's playing games in the last chance saloon of tax justice". Richard Murphy. 4 July 2018. Local subsidiaries of multinationals must always be required to file their accounts on public record, which is not the case at present. Ireland is not just a tax haven at present, it is also a corporate secrecy jurisdiction.
^ "FSI Team". Tax Justice Network. 2018.
^ Pegg, David (30 January 2018). "UN urged to launch global effort to end offshore tax evasion". The Guardian. Retrieved 22 March 2019.
^ "Australia a safe haven for illicit funds, but Switzerland the world's worst". Sydney Morning Hearld. 31 January 2018.
^ "Report Says U.S. Is World's Second-Biggest Tax Haven". Bloomberg News. 30 January 2018.
^ "U.S. Becomes World's Second-Biggest Tax Haven". The Wall Street Journal. 30 January 2018.
^ "Offshore activities and money laundering: recent findings and challenges" (PDF). EU Parliament. March 2017. p. 41.
^ a b "Financial Secrecy Index - 2018 Results". Tax Justice Network. January 2018.
^ "Financial Secrecy Index - 2015 Results". Tax Justice Network. 2 November 2015. Archived from the original on 8 December 2015. Retrieved 5 December 2015.
^ "View 2020 results". fsi.taxjustice.net. Retrieved 29 October 2020.
^ "Secrecy Indicators". Tax Justice Network. 2018.
^ "Global Scale Weight". Tax Justice Network. 2018.
^ a b c "Financial Secrecy Index 2018 Methodology" (PDF). Tax Justice Network. January 2018.

External links[edit]

Financial Secrecy Index 2018
Financial Secrecy Index Portal

[note-21] ^ a b c d e f g h i j k l m n o p q r s t The FSI Value is calculated by multiplying the cube of the Secrecy Score with the cube root of the Global Scale Weight. The final result is divided through by one hundred for presentational clarity.

[1] Because of the weighting of the financial secrecy indicators, the FSI is often mislabeled as a quantitative index; however it is a qualitative index

[11] Apple Sales International ("ASI"), and Apple Operations Europe ("AOE")

[2] "Leading economies blamed for fiscal secrecy by Tax Justice Network". Financial Times. 30 October 2009.

[3] "Lifting the Veil - An index of financial secrecy". The Economist. 6 November 2013.

[4] "U.S.The mega-haven". The Economist. 5 November 2015.

[Drucker2016-5] Jesse Drucker (27 January 2016). "The World's Favorite New Tax Haven Is the United States". Bloomberg.com.

[6] Wood, Robert W. (27 January 2016). "The World's Next Top Tax Haven Is...America". Forbes. Retrieved 7 June 2016.

[7] Swanson, Ana (5 April 2016). "How the U.S. became one of the world's biggest tax havens". The Washington Post. Retrieved 23 April 2016.

[zux-8] "Ireland is the world's biggest corporate 'tax haven', say academics". The Irish Times. 13 June 2018. New Gabriel Zucman study claims State shelters more multinational profits than the entire Caribbean

[9] "New report: is Apple paying less than 1% tax in the EU?". Tax Justice Network. 28 June 2018. The use of private "unlimited liability company" (ULC) status, which exempts companies from filing financial reports publicly. The fact that Apple, Google and many others continue to keep their Irish financial information secret is due to a failure by the Irish government to implement the 2013 EU Accounting Directive, which would require full public financial statements, until 2017, and even then retaining an exemption from financial reporting for certain holding companies until 2022

[10] "Ireland's playing games in the last chance saloon of tax justice". Richard Murphy. 4 July 2018. Local subsidiaries of multinationals must always be required to file their accounts on public record, which is not the case at present. Ireland is not just a tax haven at present, it is also a corporate secrecy jurisdiction.

[FSI_Team-12] "FSI Team". Tax Justice Network. 2018.

[13] Pegg, David (30 January 2018). "UN urged to launch global effort to end offshore tax evasion". The Guardian. Retrieved 22 March 2019.

[14] "Australia a safe haven for illicit funds, but Switzerland the world's worst". Sydney Morning Hearld. 31 January 2018.

[15] "Report Says U.S. Is World's Second-Biggest Tax Haven". Bloomberg News. 30 January 2018.

[16] "U.S. Becomes World's Second-Biggest Tax Haven". The Wall Street Journal. 30 January 2018.

[pana2-17] "Offshore activities and money laundering: recent findings and challenges" (PDF). EU Parliament. March 2017. p. 41.

[FSI2018-18] "Financial Secrecy Index - 2018 Results". Tax Justice Network. January 2018.

[FSI-19] "Financial Secrecy Index - 2015 Results". Tax Justice Network. 2 November 2015. Archived from the original on 8 December 2015. Retrieved 5 December 2015.

[20] "View 2020 results". fsi.taxjustice.net. Retrieved 29 October 2020.

[22] "Secrecy Indicators". Tax Justice Network. 2018.

[23] "Global Scale Weight". Tax Justice Network. 2018.

[FSIMETHODOLOGY-24] "Financial Secrecy Index 2018 Methodology" (PDF). Tax Justice Network. January 2018.