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class="vector-toc-numb">2</span> <span>CORPNET Report</span> </div> </a> <ul id="toc-CORPNET_Report-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Conduit_OFCs" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Conduit_OFCs"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Conduit OFCs</span> </div> </a> <ul id="toc-Conduit_OFCs-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Sink_OFCs" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Sink_OFCs"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Sink OFCs</span> </div> </a> <ul id="toc-Sink_OFCs-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-OECD_failings" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#OECD_failings"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>OECD failings</span> </div> </a> <ul id="toc-OECD_failings-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Isle_of_Man_omitted" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Isle_of_Man_omitted"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Isle of Man omitted</span> </div> </a> <ul id="toc-Isle_of_Man_omitted-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Ireland_underestimated" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Ireland_underestimated"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Ireland underestimated</span> </div> </a> <ul id="toc-Ireland_underestimated-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> 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href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1246091330"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of a series on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Tax" title="Tax">Taxation</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/100px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png" decoding="async" width="100" height="113" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/150px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b1/10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg/200px-10_Percent_Legacy_and_Succession_Duty_Impressed_Duty_Stamp.svg.png 2x" data-file-width="440" data-file-height="496" /></a></span></td></tr><tr><td class="sidebar-above"> An aspect of <a href="/wiki/Fiscal_policy" title="Fiscal policy">fiscal policy</a></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_policy" title="Tax policy">Policies</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Government_revenue" title="Government revenue">Government revenue</a></li> <li><a href="/wiki/Property_tax_equalization" title="Property tax equalization">Property tax equalization</a></li> <li><a href="/wiki/Tax_revenue" title="Tax revenue">Tax revenue</a></li> <li><a href="/wiki/Non-tax_revenue" title="Non-tax revenue">Non-tax revenue</a></li> <li><a href="/wiki/Tax_law" title="Tax law">Tax law</a></li> <li><a href="/wiki/Tax_bracket" title="Tax bracket">Tax bracket</a> <ul><li><a href="/wiki/Flat_tax" title="Flat tax">Flat tax</a></li></ul></li> <li><a href="/wiki/Income_tax_threshold" title="Income tax threshold">Tax threshold</a></li> <li><a href="/wiki/Tax_exemption" title="Tax exemption">Exemption</a></li> <li><a href="/wiki/Tax_credit" title="Tax credit">Credit</a></li> <li><a href="/wiki/Tax_deduction" title="Tax deduction">Deduction</a></li> <li><a href="/wiki/Tax_shift" title="Tax shift">Tax shift</a></li> <li><a href="/wiki/Tax_cut" title="Tax cut">Tax cut</a></li> <li><a href="/wiki/Tax_holiday" title="Tax holiday">Tax holiday</a></li> <li><a href="/wiki/Tax_amnesty" title="Tax amnesty">Tax amnesty</a></li> <li><a href="/wiki/Tax_advantage" title="Tax advantage">Tax advantage</a></li> <li><a href="/wiki/Tax_incentive" title="Tax incentive">Tax incentive</a></li> <li><a href="/wiki/Tax_reform" title="Tax reform">Tax reform</a></li> <li><a href="/wiki/Tax_harmonization" title="Tax harmonization">Tax harmonization</a></li> <li><a href="/wiki/Tax_competition" title="Tax competition">Tax competition</a></li> <li><a href="/wiki/Tax_withholding" title="Tax withholding">Tax withholding</a></li> <li><a href="/wiki/Double_taxation" title="Double taxation">Double taxation</a></li> <li><a href="/wiki/No_taxation_without_representation" title="No taxation without representation">Representation</a></li> <li><a href="/wiki/Taxpayer_groups" title="Taxpayer groups">Unions</a></li> <li><a href="/wiki/Medical_savings_account" title="Medical savings account">Medical savings account</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax#Economic_effects" title="Tax">Economics</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> General Theory</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Effect_of_taxes_and_subsidies_on_price" title="Effect of taxes and subsidies on price">Price effect</a></li> <li><a href="/wiki/Excess_burden_of_taxation" title="Excess burden of taxation">Excess burden</a></li> <li><a href="/wiki/Tax_incidence" title="Tax incidence">Tax incidence</a></li> <li><a href="/wiki/Laffer_curve" title="Laffer curve">Laffer curve</a></li> <li><a href="/wiki/Optimal_tax" title="Optimal tax">Optimal tax</a></li> <li><a href="/wiki/Theories_of_taxation" title="Theories of taxation">Theories</a></li> <li><a href="/wiki/Optimal_capital_income_taxation" title="Optimal capital income taxation">Optimal capital income taxation</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Distribution of Tax</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_rate" title="Tax rate">Tax rate</a></li> <li><a href="/wiki/Flat_tax" title="Flat tax">Flat</a></li> <li><a href="/wiki/Progressive_tax" title="Progressive tax">Progressive</a></li> <li><a href="/wiki/Regressive_tax" title="Regressive tax">Regressive</a></li> <li><a href="/wiki/Proportional_tax" title="Proportional tax">Proportional</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_collection" class="mw-redirect" title="Tax collection">Collection</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Revenue_service" title="Revenue service">Revenue service</a></li> <li><a href="/wiki/Revenue_stamp" title="Revenue stamp">Revenue stamp</a></li> <li><a href="/wiki/Tax_assessment" title="Tax assessment">Tax assessment</a></li> <li><a href="/wiki/Taxable_income" title="Taxable income">Taxable income</a></li> <li><a href="/wiki/Tax_lien" title="Tax lien">Tax lien</a></li> <li><a href="/wiki/Tax_refund" title="Tax refund">Tax refund</a></li> <li><a href="/wiki/Tax_shield" title="Tax shield">Tax shield</a></li> <li><a href="/wiki/Tax_residence" title="Tax residence">Tax residence</a></li> <li><a href="/wiki/Tax_preparation" class="mw-redirect" title="Tax preparation">Tax preparation</a></li> <li><a href="/wiki/Tax_investigation" title="Tax investigation">Tax investigation</a></li> <li><a href="/wiki/Tax_shelter" title="Tax shelter">Tax shelter</a></li> <li><a href="/wiki/Tax_collector" title="Tax collector">Tax collector</a></li> <li><a href="/wiki/Privatized_tax_collection" title="Privatized tax collection">Private tax collection</a></li> <li><a href="/wiki/Farm_(revenue_leasing)" title="Farm (revenue leasing)">Tax farming</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Tax_noncompliance" title="Tax noncompliance">Noncompliance</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> General</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Tax_avoidance" title="Tax avoidance">Tax avoidance</a> <ul><li><a href="/wiki/Repatriation_tax_avoidance" title="Repatriation tax avoidance">Repatriation tax avoidance</a></li></ul></li> <li><a href="/wiki/Tax_evasion" title="Tax evasion">Tax evasion</a></li> <li><a href="/wiki/Tax_resistance" title="Tax resistance">Tax resistance</a></li> <li><a href="/wiki/Tax_shelter" title="Tax shelter">Tax shelter</a></li> <li><a href="/wiki/Debtors%27_prison" title="Debtors' prison">Debtors' prison</a></li> <li><a href="/wiki/Smuggling" title="Smuggling">Smuggling</a></li> <li><a href="/wiki/Black_market" title="Black market">Black market</a></li> <li><a href="/wiki/Unreported_employment" title="Unreported employment">Unreported employment</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Corporate</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_inversion" title="Tax inversion">Tax inversion</a></li> <li><a href="/wiki/Transfer_mispricing" title="Transfer mispricing">Transfer mispricing</a></li> <li><a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">Base erosion and profit shifting</a> (BEPS)</li> <li><a href="/wiki/Double_Irish_arrangement" title="Double Irish arrangement">Double Irish</a></li> <li><a href="/wiki/Dutch_Sandwich" title="Dutch Sandwich">Dutch Sandwich</a></li> <li><a href="/wiki/Double_Irish_arrangement#Replacement_by_single_malt" title="Double Irish arrangement">Single Malt</a></li> <li><a href="/wiki/Double_Irish_arrangement#Backstop_of_capital_allowances" title="Double Irish arrangement">CAIA</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Locations</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Tax_haven" title="Tax haven">Tax havens</a></li> <li><a href="/wiki/Corporate_haven" title="Corporate haven">Corporate havens</a></li> <li><a href="/wiki/Offshore_financial_centre" title="Offshore financial centre">Offshore financial centres</a> (OFCs)</li> <li><a href="/wiki/Offshore_magic_circle" title="Offshore magic circle">Offshore magic circle</a></li> <li><a class="mw-selflink selflink">Conduit and sink OFCs</a></li> <li><a href="/wiki/Financial_centre" title="Financial centre">Financial centres</a></li> <li><a href="/wiki/Financial_Secrecy_Index" title="Financial Secrecy Index">Financial Secrecy Index</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Major examples</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Ireland_as_a_tax_haven" title="Ireland as a tax haven">Ireland as a tax haven</a> <ul><li><i><a href="/wiki/Apple%27s_EU_tax_dispute" title="Apple's EU tax dispute">Ireland v. Commission</a></i></li> <li><a href="/wiki/Leprechaun_economics" title="Leprechaun economics">Leprechaun economics</a></li></ul></li> <li><a href="/wiki/2008_Liechtenstein_tax_affair" title="2008 Liechtenstein tax affair">Liechtenstein tax affair</a></li> <li><a href="/wiki/LuxLeaks" title="LuxLeaks">Luxembourg Leaks</a></li> <li><a href="/wiki/Offshore_Leaks" title="Offshore Leaks">Offshore Leaks</a></li> <li><a href="/wiki/Paradise_Papers" title="Paradise Papers">Paradise Papers</a></li> <li><a href="/wiki/Panama_Papers" title="Panama Papers">Panama Papers</a></li> <li><a href="/wiki/Swiss_Leaks" title="Swiss Leaks">Swiss Leaks</a></li> <li><a href="/wiki/United_States_as_a_tax_haven" title="United States as a tax haven">United States as a tax haven</a></li> <li><a href="/wiki/Panama_as_a_tax_haven" title="Panama as a tax haven">Panama as a tax haven</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/List_of_taxes" title="List of taxes">Types</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Direct_tax" title="Direct tax">Direct</a></li> <li><a href="/wiki/Indirect_tax" title="Indirect tax">Indirect</a></li> <li><a href="/wiki/Per_unit_tax" title="Per unit tax">Per unit</a></li> <li><a href="/wiki/Ad_valorem_tax" title="Ad valorem tax">Ad valorem</a></li> <li><a href="/wiki/Aviation_taxation_and_subsidies" title="Aviation taxation and subsidies">Aviation</a> <ul><li><a href="/wiki/Airport_improvement_fee" title="Airport improvement fee">Airport improvement</a></li> <li><a href="/wiki/Landing_fee" title="Landing fee">Landing</a></li> <li><a href="/wiki/Solidarity_tax_on_airplane_tickets" title="Solidarity tax on airplane tickets">Solidarity</a></li></ul></li> <li><a href="/wiki/Capital_gains_tax" title="Capital gains tax">Capital gains</a> <ul><li><a href="/wiki/Expatriation_tax" title="Expatriation tax">Expatriation</a></li></ul></li> <li><a href="/wiki/Consumption_tax" title="Consumption tax">Consumption</a> <ul><li><a href="/wiki/Departure_tax" title="Departure tax">Departure</a></li> <li><a href="/wiki/Hotel_tax" class="mw-redirect" title="Hotel tax">Hotel</a></li> <li><a href="/wiki/Sales_tax" title="Sales tax">Sales</a></li> <li><a href="/wiki/Stamp_duty" title="Stamp duty">Stamp</a></li> <li><a href="/wiki/Television_licence" title="Television licence">Television</a></li> <li><a href="/wiki/Tourist_tax" title="Tourist tax">Tourist</a></li> <li><a href="/wiki/Value-added_tax" title="Value-added tax">Value-added</a></li></ul></li> <li><a href="/wiki/Dividend_tax" title="Dividend tax">Dividend</a></li> <li><a href="/wiki/Environmental_tax" title="Environmental tax">Environmental tax</a> <ul><li><a href="/wiki/Carbon_tax" title="Carbon tax">Carbon</a></li> <li><a href="/wiki/Eco-tariff" title="Eco-tariff">Eco-tariff</a></li> <li><a href="/wiki/Landfill_tax" title="Landfill tax">Landfill</a></li> <li><a href="/wiki/Natural_resources_consumption_tax" title="Natural resources consumption tax">Natural resources consumption</a></li> <li><a href="/wiki/Severance_tax" title="Severance tax">Severance</a></li> <li><a href="/wiki/Steering_tax" title="Steering tax">Steering</a></li> <li><a href="/wiki/Stumpage" title="Stumpage">Stumpage</a></li></ul></li> <li><a href="/wiki/Excise" title="Excise">Excise</a> <ul><li><a href="/wiki/Alcohol_law" title="Alcohol law">Alcohol</a></li> <li><a href="/wiki/Cigarette_taxes_in_the_United_States" title="Cigarette taxes in the United States">Cigarette</a></li> <li><a href="/wiki/Fat_tax" title="Fat tax">Fat</a></li> <li><a href="/wiki/Meat_tax" title="Meat tax">Meat</a></li> <li><a href="/wiki/Sin_tax" title="Sin tax">Sin</a></li> <li><a href="/wiki/Sugary_drink_tax" title="Sugary drink tax">Sugary drink</a></li> <li><a href="/wiki/Tobacco_smoking" title="Tobacco smoking">Tobacco</a></li></ul></li> <li><a href="/wiki/Consolidated_Fund" title="Consolidated Fund">General</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgist</a></li> <li><a href="/wiki/Gift_tax" title="Gift tax">Gift</a></li> <li><a href="/wiki/Gross_receipts_tax" title="Gross receipts tax">Gross receipts</a></li> <li><a href="/wiki/Hypothecated_tax" title="Hypothecated tax">Hypothecated</a></li> <li><a href="/wiki/Income_tax" title="Income tax">Income</a></li> <li><a href="/wiki/Inheritance_tax" title="Inheritance tax">Inheritance (estate)</a></li> <li><a href="/wiki/Land_value_tax" title="Land value tax">Land value</a></li> <li><a href="/wiki/Luxury_tax" title="Luxury tax">Luxury</a></li> <li><a href="/wiki/Payroll_tax" title="Payroll tax">Payroll</a></li> <li><a href="/wiki/Pigouvian_tax" title="Pigouvian tax">Pigouvian</a></li> <li><a href="/wiki/Property_tax" title="Property tax">Property</a></li> <li><a href="/wiki/Resource_rent_tax" title="Resource rent tax">Resource rent</a></li> <li><a href="/wiki/Single_tax" title="Single tax">Single</a></li> <li><a href="/wiki/Surtax" title="Surtax">Surtax</a></li> <li><a href="/wiki/Turnover_tax" title="Turnover tax">Turnover</a></li> <li><a href="/wiki/Use_tax" title="Use tax">Use</a></li> <li><a href="/wiki/User_charge" title="User charge">User charge</a>/<a href="/wiki/User_fee" title="User fee">fee</a> <ul><li><a href="/wiki/Congestion_pricing" title="Congestion pricing">Congestion</a></li> <li><a href="/wiki/Fuel_tax" title="Fuel tax">Fuel</a></li> <li><a href="/wiki/Road_pricing" title="Road pricing">Road</a>/<a href="/wiki/GNSS_road_pricing" title="GNSS road pricing">GNSS</a></li> <li><a href="/wiki/Toll_(fee)" title="Toll (fee)">Toll</a></li> <li><a href="/wiki/Vehicle_miles_traveled_tax" title="Vehicle miles traveled tax">Vehicle miles traveled</a></li></ul></li> <li><a href="/wiki/Corporate_tax" title="Corporate tax">Corporate profit</a></li> <li><a href="/wiki/Excess_profits_tax" title="Excess profits tax">Excess profits</a></li> <li><a href="/wiki/Windfall_tax" title="Windfall tax">Windfall</a></li> <li><a href="/wiki/Negative_income_tax" title="Negative income tax">Negative (income)</a></li> <li><a href="/wiki/Wealth_tax" title="Wealth tax">Wealth</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/International_taxation" title="International taxation">International</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Financial_transaction_tax" title="Financial transaction tax">Financial transaction tax</a></li> <li><a href="/wiki/Association_for_the_Taxation_of_Financial_Transactions_and_for_Citizens%27_Action" title="Association for the Taxation of Financial Transactions and for Citizens' Action">ATTAC</a></li> <li><a href="/wiki/Currency_transaction_tax" title="Currency transaction tax">Currency transaction tax</a></li> <li><a href="/wiki/Common_Consolidated_Corporate_Tax_Base" title="Common Consolidated Corporate Tax Base"><span class="wrap">European Union Common Consolidated Corporate Tax Base</span></a> (CCCTB)</li> <li><a href="/wiki/Global_minimum_corporate_tax_rate" title="Global minimum corporate tax rate">Global minimum corporate tax rate</a></li> <li><a href="/wiki/Robin_Hood_tax" title="Robin Hood tax">Robin Hood tax</a></li> <li><a href="/wiki/Tobin_tax" title="Tobin tax">Tobin tax</a></li> <li><a href="/wiki/Spahn_tax" title="Spahn tax">Spahn tax</a></li> <li><a href="/wiki/Tax_equalization" title="Tax equalization">Tax equalization</a></li> <li><a href="/wiki/Tax_treaty" title="Tax treaty">Tax treaty</a></li> <li><a href="/wiki/Exchange_of_Information" class="mw-redirect" title="Exchange of Information">Exchange of Information</a></li> <li><a href="/wiki/Permanent_establishment" title="Permanent establishment">Permanent establishment</a></li> <li><a href="/wiki/Transfer_pricing" title="Transfer pricing">Transfer pricing</a></li> <li><a href="/wiki/European_Union_financial_transaction_tax" title="European Union financial transaction tax">European Union FTT</a></li> <li><a href="/wiki/Rule_against_foreign_revenue_enforcement" title="Rule against foreign revenue enforcement">Foreign revenue rule</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Trade" title="Trade">Trade</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Customs" title="Customs">Custom</a></li> <li><a href="/wiki/Duty_(economics)" class="mw-redirect" title="Duty (economics)">Duty</a></li> <li><a href="/wiki/Tariff" title="Tariff">Tariff</a> <ul><li><a href="/wiki/Import" title="Import">Import</a></li> <li><a href="/wiki/Export" title="Export">Export</a></li></ul></li> <li><a href="/wiki/Trade_war" title="Trade war">Tariff war</a></li> <li><a href="/wiki/Free_trade" title="Free trade">Free trade</a></li> <li><a href="/wiki/Free-trade_zone" title="Free-trade zone">Free-trade zone</a></li> <li><a href="/wiki/Trade_agreement" title="Trade agreement">Trade agreement</a></li> <li><a href="/wiki/ATA_Carnet" title="ATA Carnet">ATA Carnet</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)">Research</div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Academic</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/Mihir_A._Desai" title="Mihir A. Desai">Mihir A. Desai</a></li> <li><a href="/wiki/Dhammika_Dharmapala" title="Dhammika Dharmapala">Dhammika Dharmapala</a></li> <li><a href="/wiki/James_R._Hines_Jr." title="James R. Hines Jr.">James R. Hines Jr.</a></li> <li><a href="/wiki/Ronen_Palan" title="Ronen Palan">Ronen Palan</a></li> <li><a href="/wiki/Joel_Slemrod" title="Joel Slemrod">Joel Slemrod</a></li> <li><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Advocacy groups</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Institute_on_Taxation_and_Economic_Policy" title="Institute on Taxation and Economic Policy">Institute on Taxation and Economic Policy</a> (ITEP)</li> <li><a href="/wiki/Oxfam" title="Oxfam">Oxfam</a> (UK)</li> <li><a href="/wiki/Tax_Foundation" title="Tax Foundation">Tax Foundation</a> (US)</li> <li><a href="/wiki/Tax_Justice_Network" title="Tax Justice Network">Tax Justice Network</a> (TJN)</li> <li><a href="/wiki/Tax_Policy_Center" title="Tax Policy Center">Tax Policy Center</a> (US)</li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Religion" title="Religion">Religious</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"> <ul><li><a href="/wiki/Church_tax" title="Church tax">Church tax</a></li> <li><a href="/wiki/Eight_per_thousand" title="Eight per thousand">Eight per thousand</a></li> <li><a href="/wiki/Teind" title="Teind">Teind</a></li> <li><a href="/wiki/Tithe" title="Tithe">Tithe</a></li> <li><a href="/wiki/Fiscus_Judaicus" title="Fiscus Judaicus">Fiscus Judaicus</a></li> <li><a href="/wiki/Leibzoll" title="Leibzoll">Leibzoll</a></li> <li><a href="/wiki/Temple_tax" title="Temple tax">Temple tax</a></li> <li><a href="/wiki/Tolerance_tax" title="Tolerance tax">Tolerance tax</a></li> <li><a href="/wiki/Jizya" title="Jizya">Jizya</a></li> <li><a href="/wiki/Kharaj" title="Kharaj">Kharaj</a></li> <li><a href="/wiki/Khums" title="Khums">Khums</a></li> <li><a href="/wiki/Nisab" title="Nisab">Nisab</a></li> <li><a href="/wiki/Zakat" title="Zakat">Zakat</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background-color: #efefef;;color: var(--color-base)"><a href="/wiki/Category:Taxation_by_country" title="Category:Taxation by country">By country</a></div><div class="sidebar-list-content mw-collapsible-content" style="background-color: #ffffff;"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> All Countries</th></tr><tr><td class="sidebar-content hlist" style="padding-left:0.5em;padding-right:0.5em;"> <ul><li><a href="/wiki/List_of_countries_by_tax_rates" title="List of countries by tax rates">List of countries by tax rates</a></li> <li><a href="/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio" class="mw-redirect" title="List of countries by tax revenue to GDP ratio">Tax revenue to GDP ratio</a></li> <li><a href="/wiki/Tax_rates_in_Europe" title="Tax rates in Europe">Tax rates in Europe</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#e9e9ff;font-weight:normal;font-style:italic;"> Individual Countries</th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.15em;"> <ul><li><a href="/wiki/Taxation_in_Albania" title="Taxation in Albania">Albania</a></li> <li><a href="/wiki/Taxation_in_Algeria" title="Taxation in Algeria">Algeria</a></li> <li><a href="/wiki/Taxation_in_Argentina" title="Taxation in Argentina">Argentina</a></li> <li><a href="/wiki/Taxation_in_Armenia" title="Taxation in Armenia">Armenia</a></li> <li><a href="/wiki/Taxation_in_Australia" title="Taxation in Australia">Australia</a></li> <li><a href="/wiki/Taxation_in_Azerbaijan" title="Taxation in Azerbaijan">Azerbaijan</a></li> <li><a href="/wiki/Taxation_in_Bangladesh" title="Taxation in Bangladesh">Bangladesh</a></li> <li><a href="/wiki/Taxation_in_Bhutan" title="Taxation in Bhutan">Bhutan</a></li> <li><a href="/wiki/Taxation_in_Brazil" title="Taxation in Brazil">Brazil</a></li> <li><a href="/wiki/Taxation_in_Bulgaria" title="Taxation in Bulgaria">Bulgaria</a></li> <li><a href="/wiki/Taxation_in_the_British_Virgin_Islands" title="Taxation in the British Virgin Islands">BVI</a></li> <li><a href="/wiki/Taxation_in_Canada" title="Taxation in Canada">Canada</a></li> <li><a href="/wiki/Taxation_in_China" title="Taxation in China">China</a></li> <li><a href="/wiki/Taxation_in_Colombia" title="Taxation in Colombia">Colombia</a></li> <li><a href="/wiki/Taxation_in_Croatia" title="Taxation in Croatia">Croatia</a></li> <li><a href="/wiki/Taxation_in_Denmark" title="Taxation in Denmark">Denmark</a></li> <li><a href="/wiki/Taxation_in_Finland" title="Taxation in Finland">Finland</a></li> <li><a href="/wiki/Taxation_in_France" title="Taxation in France">France</a></li> <li><a href="/wiki/Taxation_in_Germany" title="Taxation in Germany">Germany</a></li> <li><a href="/wiki/Taxation_in_Greece" title="Taxation in Greece">Greece</a></li> <li><a href="/wiki/Taxation_in_Hong_Kong" title="Taxation in Hong Kong">Hong Kong</a></li> <li><a href="/wiki/Taxation_in_Iceland" title="Taxation in Iceland">Iceland</a></li> <li><a href="/wiki/Taxation_in_India" title="Taxation in India">India</a></li> <li><a href="/wiki/Taxation_in_Indonesia" title="Taxation in Indonesia">Indonesia</a></li> <li><a href="/wiki/Taxation_in_Iran" title="Taxation in Iran">Iran</a></li> <li><a href="/wiki/Taxation_in_the_Republic_of_Ireland" title="Taxation in the Republic of Ireland">Ireland</a></li> <li><a href="/wiki/Taxation_in_Israel" title="Taxation in Israel">Israel</a></li> <li><a href="/wiki/Taxation_in_Italy" title="Taxation in Italy">Italy</a></li> <li><a href="/wiki/Taxation_in_Japan" title="Taxation in Japan">Japan</a></li> <li><a href="/wiki/Taxation_in_Kazakhstan" title="Taxation in Kazakhstan">Kazakhstan</a></li> <li><a href="/wiki/Taxation_in_Lithuania" title="Taxation in Lithuania">Lithuania</a></li> <li><a href="/wiki/Taxation_in_Malta" title="Taxation in Malta">Malta</a></li> <li><a href="/wiki/Taxation_in_Morocco" title="Taxation in Morocco">Morocco</a></li> <li><a href="/wiki/Taxation_in_Namibia" title="Taxation in Namibia">Namibia</a></li> <li><a href="/wiki/Taxation_in_the_Netherlands" title="Taxation in the Netherlands">Netherlands</a></li> <li><a href="/wiki/Taxation_in_New_Zealand" title="Taxation in New Zealand">New Zealand</a></li> <li><a href="/wiki/Taxation_in_Norway" title="Taxation in Norway">Norway</a></li> <li><a href="/wiki/Taxation_in_Pakistan" title="Taxation in Pakistan">Pakistan</a></li> <li><a href="/wiki/Taxation_in_the_State_of_Palestine" title="Taxation in the State of Palestine">Palestine</a></li> <li><a href="/wiki/Taxation_in_Peru" title="Taxation in Peru">Peru</a></li> <li><a href="/wiki/Taxation_in_the_Philippines" title="Taxation in the Philippines">Philippines</a></li> <li><a href="/wiki/Taxation_in_Poland" title="Taxation in Poland">Poland</a></li> <li><a href="/wiki/Taxation_in_Portugal" title="Taxation in Portugal">Portugal</a></li> <li><a href="/wiki/Taxation_in_Russia" title="Taxation in Russia">Russia</a></li> <li><a href="/wiki/Taxation_in_South_Africa" title="Taxation in South Africa">South Africa</a></li> <li><a href="/wiki/Taxation_in_Sri_Lanka" title="Taxation in Sri Lanka">Sri Lanka</a></li> <li><a href="/wiki/Taxation_in_Sweden" title="Taxation in Sweden">Sweden</a></li> <li><a href="/wiki/Taxation_in_Switzerland" title="Taxation in Switzerland">Switzerland</a></li> <li><a href="/wiki/Taxation_in_Taiwan" title="Taxation in Taiwan">Taiwan</a></li> <li><a href="/wiki/Taxation_in_Tanzania" title="Taxation in Tanzania">Tanzania</a></li> <li><a href="/wiki/Taxation_in_the_United_Arab_Emirates" title="Taxation in the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/wiki/Taxation_in_the_United_Kingdom" title="Taxation in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Taxation_in_the_United_States" title="Taxation in the United States">United States</a></li> <li><a href="/wiki/Taxation_in_Uruguay" title="Taxation in Uruguay">Uruguay</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-below" style="background-color: #efefef;"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Taxation" title="Template:Taxation"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Taxation" title="Template talk:Taxation"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Taxation" title="Special:EditPage/Template:Taxation"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Conduit OFC</b> and <b>sink OFC</b> is an empirical quantitative method of classifying <a href="/wiki/Corporate_tax_haven" class="mw-redirect" title="Corporate tax haven">corporate tax havens</a>, <a href="/wiki/Offshore_financial_centres" class="mw-redirect" title="Offshore financial centres">offshore financial centres</a> (OFCs) and <a href="/wiki/Tax_haven" title="Tax haven">tax havens</a>.<sup id="cite_ref-guar_1-0" class="reference"><a href="#cite_note-guar-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-bloom_2-0" class="reference"><a href="#cite_note-bloom-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-bloom2_3-0" class="reference"><a href="#cite_note-bloom2-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg/220px-Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg" decoding="async" width="220" height="219" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg/330px-Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5d/Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg/440px-Uncovering_Offshore_Financial_Centers_Figure_3_Network_of_ownership_flows_between_countries.jpg 2x" data-file-width="675" data-file-height="673" /></a><figcaption>"Uncovering <a href="/wiki/Offshore_Financial_Centers" class="mw-redirect" title="Offshore Financial Centers">Offshore Financial Centers</a>": CORPNET's map of connections between countries.<sup id="cite_ref-xx_4-0" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>Traditional methods for identifying tax havens analyse tax and legal structures for <a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">base erosion and profit shifting</a> (BEPS) tools. However, this approach follows a purely quantitative approach, ignoring any taxation or legal concepts, to instead follow a <a href="/wiki/Big_data" title="Big data">big data</a> analysis of the ownership chains of 98 million global companies. The technique gives both a method of classification and a method of understanding the relative scale – but not absolute scale – of havens/OFCs.<sup id="cite_ref-conversation_5-0" class="reference"><a href="#cite_note-conversation-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-RTEconduit_6-0" class="reference"><a href="#cite_note-RTEconduit-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>The results were published by the <a href="/wiki/University_of_Amsterdam" title="University of Amsterdam">University of Amsterdam</a>'s CORPNET Group in 2017, and identified two classifications:<sup id="cite_ref-conversation_5-1" class="reference"><a href="#cite_note-conversation-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-RTEconduit_6-1" class="reference"><a href="#cite_note-RTEconduit-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p> <ul><li>24 global sink OFCs: jurisdictions in which a "disproportional amount of value disappears from the economic system" (i.e. the traditional <a href="/wiki/Tax_haven" title="Tax haven">tax havens</a>).<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>a<span class="cite-bracket">]</span></a></sup></li> <li>Five global conduit OFCs: jurisdictions "through which a disproportional amount of value moves toward sink OFCs" (i.e. modern <a href="/wiki/Corporate_tax_haven" class="mw-redirect" title="Corporate tax haven">corporate tax havens</a>).<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>b<span class="cite-bracket">]</span></a></sup></li></ul> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>Our findings debunk the myth of tax havens<sup id="cite_ref-def_9-0" class="reference"><a href="#cite_note-def-9"><span class="cite-bracket">[</span>c<span class="cite-bracket">]</span></a></sup> as exotic far-flung islands that are difficult, if not impossible, to regulate. Many offshore financial centers<sup id="cite_ref-def_9-1" class="reference"><a href="#cite_note-def-9"><span class="cite-bracket">[</span>c<span class="cite-bracket">]</span></a></sup> are highly developed countries with strong regulatory environments.</p><div class="templatequotecite">— <cite>Javier Garcia-Bernardo, Jan Fichtner, Frank W. Takes & Eelke M. Heemskerk, CORPNET <a href="/wiki/University_of_Amsterdam" title="University of Amsterdam">University of Amsterdam</a><sup id="cite_ref-xx_4-1" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></cite></div></blockquote> <p>In 2017, the <a href="/wiki/European_Parliament" title="European Parliament">European Parliament</a> adopted the CORPNET approach into their frameworks for addressing tax havens.<sup id="cite_ref-pana2_10-0" class="reference"><a href="#cite_note-pana2-10"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> In 2018, research by <a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a> showed that using <a href="/wiki/Bureau_van_Dijk" title="Bureau van Dijk">Orbis database</a> connections specifically underestimates the scale of Ireland, which the <a href="/wiki/Gabriel_Zucman#Zucman-Tørsløv-Wier_2018_list" title="Gabriel Zucman">Zucman–Tørsløv–Wier 2018 list</a> showed is the largest Conduit OFC in the world.<sup id="cite_ref-zuc_11-0" class="reference"><a href="#cite_note-zuc-11"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Irish_Times_12-0" class="reference"><a href="#cite_note-Irish_Times-12"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-gabzucucwsj_13-0" class="reference"><a href="#cite_note-gabzucucwsj-13"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> This aside, CORPNET's Conduits and Sinks reconcile closely with the most noted academic <a href="/wiki/Tax_havens#Top_10_tax_havens" class="mw-redirect" title="Tax havens">top ten tax haven</a> lists. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=1" title="Edit section: Background"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Tax_haven#Tax_haven_lists" title="Tax haven">Tax haven § Tax haven lists</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/63/Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg/220px-Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg" decoding="async" width="220" height="212" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/63/Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg/330px-Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/63/Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg/440px-Uncovering_Offshore_Financial_Centers_Cayman_Conundrum.jpg 2x" data-file-width="695" data-file-height="670" /></a><figcaption>"Uncovering Offshore Financial Centers": The "Cayman Islands Conundrum".<sup id="cite_ref-xx_4-2" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>The lack of an accepted <a href="/wiki/Tax_haven#Definitions" title="Tax haven">definition</a> for identifying tax havens (and even offshore financial centres), results in different lists, including: </p> <ul><li>Academic leaders in tax haven research:<sup id="cite_ref-eup_14-0" class="reference"><a href="#cite_note-eup-14"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> <a href="/wiki/James_R._Hines_Jr." title="James R. Hines Jr.">Hines</a> (1994, 2007, 2010)<sup id="cite_ref-h1_15-0" class="reference"><a href="#cite_note-h1-15"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-h2_16-0" class="reference"><a href="#cite_note-h2-16"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-h3_17-0" class="reference"><a href="#cite_note-h3-17"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Dhammika_Dharmapala" title="Dhammika Dharmapala">Dharmapala</a> (2008, 2009),<sup id="cite_ref-d1_18-0" class="reference"><a href="#cite_note-d1-18"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Zucman</a> (2015, 2018).<sup id="cite_ref-gbz_19-0" class="reference"><a href="#cite_note-gbz-19"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-gabzucucwsj_13-1" class="reference"><a href="#cite_note-gabzucucwsj-13"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Irish_Times_12-1" class="reference"><a href="#cite_note-Irish_Times-12"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup></li> <li><a href="/wiki/OECD" title="OECD">OECD</a> lists: Started with 35 locations in 2000 (none of which were OECD members),<sup id="cite_ref-OECD_havens_20-0" class="reference"><a href="#cite_note-OECD_havens-20"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> but by 2017, only listed Trinidad & Tobago as a tax haven.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup></li> <li><a href="/wiki/IMF" class="mw-redirect" title="IMF">IMF</a> OFC lists: Started with 46 OFCs in June 2000 using qualitative methods;<sup id="cite_ref-IMFJune2000_22-0" class="reference"><a href="#cite_note-IMFJune2000-22"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> refined to 22 OFCs in April 2007 using purely quantitive methods;<sup id="cite_ref-imf_23-0" class="reference"><a href="#cite_note-imf-23"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> listed the eight major OFCs in 2018 who handle 85% of all flows;<sup id="cite_ref-imfx_24-0" class="reference"><a href="#cite_note-imfx-24"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> by 2010, the tax academics considered OFCs as synonymous with tax havens.<sup id="cite_ref-missing_profits_25-0" class="reference"><a href="#cite_note-missing_profits-25"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup></li> <li><a href="/wiki/Institute_on_Taxation_and_Economic_Policy" title="Institute on Taxation and Economic Policy">ITEP</a> lists: Focus on offshore structures of US S&P500 firms, and list the Netherlands, Ireland, the Caribbean, and Luxembourg in their top five.<sup id="cite_ref-ITEP_26-0" class="reference"><a href="#cite_note-ITEP-26"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup></li></ul> <p>There are "traditional" tax havens common on all these lists (e.g. some Caribbean and Channel Islands locations), which some global regulators have either blacklisted, or have issued formal warnings/threat of sanctions against, unless transparency is increased.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p><p>However, a key difference between the lists regards the major OECD and EU tax havens (or offshore financial centres), such as Switzerland, Ireland the Netherlands and Luxembourg (amongst others).<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> Major regulators like the EU and the OECD don't regard OECD or EU countries as tax havens, and point to their transparency and compliance with international regulations.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p><p>Academic leaders in tax haven research, and other non–governmental organizations, point to the role of OECD and EU tax havens in tax avoidance from <a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">base erosion and profit shifting</a> (BEPS) schemes, like the <a href="/wiki/Double_Irish" class="mw-redirect" title="Double Irish">Double Irish</a>, the <a href="/wiki/Double_Irish_arrangement#Replacement_by_Single_Malt" title="Double Irish arrangement">Single Malt</a> and the <a href="/wiki/Dutch_Sandwich" title="Dutch Sandwich">Dutch Sandwich</a>.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> They regard them as major tax havens in their <a href="/wiki/Tax_haven#Definitions" title="Tax haven">definitions of tax havens</a>.<sup id="cite_ref-Irish_Times_12-2" class="reference"><a href="#cite_note-Irish_Times-12"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-gabzucucwsj_13-2" class="reference"><a href="#cite_note-gabzucucwsj-13"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="CORPNET_Report">CORPNET Report<span class="anchor" id="CORPNET_Report"></span></h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=2" title="Edit section: CORPNET Report"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Offshore_Financial_Centre_Chains.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Offshore_Financial_Centre_Chains.png/220px-Offshore_Financial_Centre_Chains.png" decoding="async" width="220" height="207" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Offshore_Financial_Centre_Chains.png/330px-Offshore_Financial_Centre_Chains.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5e/Offshore_Financial_Centre_Chains.png/440px-Offshore_Financial_Centre_Chains.png 2x" data-file-width="933" data-file-height="877" /></a><figcaption>"Uncovering Offshore Financial Centers": Example of a corporate global ownership chain.<sup id="cite_ref-xx_4-3" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>A report published in <a href="/wiki/Nature_(journal)" title="Nature (journal)">Nature</a> in 2017 on the analysis of offshore financial centres called: "Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network",<sup id="cite_ref-xx_4-4" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> provided a quantitative and scientific approach to the classification of tax havens.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-rr_38-0" class="reference"><a href="#cite_note-rr-38"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-guar_1-1" class="reference"><a href="#cite_note-guar-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-bloom2_3-1" class="reference"><a href="#cite_note-bloom2-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>The report was the result of a multi-year investigation by political economists and computer scientists in the CORPNET research group at the University of Amsterdam. CORPNET is a European Research Council funded group at the University of Amsterdam investigating networks of corporate control.<sup id="cite_ref-bloom_2-1" class="reference"><a href="#cite_note-bloom-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> </p><p>The report used the Moody's <a href="/wiki/Bureau_van_Dijk" title="Bureau van Dijk">Orbis corporate database</a>,<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> to examine 98 million global companies and their 71 million ownership connections (using <a href="/wiki/Big_data" title="Big data">big data</a> computer modelling) to identify 5 global Conduit OFCs (Netherlands, United Kingdom, Ireland, Singapore and Switzerland). These are countries of high financial reputation (i.e. not formally labelled "tax havens" by OECD/EU), but who have "advanced" legal and tax structuring vehicles (and SPVs) that help legally route funds to the 24 tax havens (called Sink OFCs), without incurring tax in the Conduit OFC (or even tax in the source of funds location, where <a href="/wiki/Royalty_payment" title="Royalty payment">royalty payment</a> schemes can be used).<sup id="cite_ref-xx_4-5" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-conversation_5-2" class="reference"><a href="#cite_note-conversation-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>The work built on methods established in the "Offshore–Intensity Ratio",<sup id="cite_ref-fir_41-0" class="reference"><a href="#cite_note-fir-41"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> and in particular the understanding "activity" relative to the "scale" of the domestic economy in a country.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> At its crudest level, the Offshore-Intensity Ratio explains why the countries at the top of global <a href="/wiki/List_of_countries_by_GDP_(PPP)_per_capita" title="List of countries by GDP (PPP) per capita">GDP per capita</a> lists are mostly <a href="/wiki/Tax_haven#GDP-per-capita" title="Tax haven">tax havens</a>. </p><p>The EU Parliament's Policy Department on Economic and Scientific Policies included the research in its findings for the EU Committee on Money laundering, tax avoidance and tax evasion (PANA),<sup id="cite_ref-pana1_43-0" class="reference"><a href="#cite_note-pana1-43"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> and by tabulating against existing EU–IMF–FSI list of tax havens, showed material gaps in EU understanding of conduits.<sup id="cite_ref-pana2_10-1" class="reference"><a href="#cite_note-pana2-10"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>CORPNET's top 5 Conduits and top 5 Sinks are 9 of the 10 largest tax havens identified in 2010 by one of the academic founders of tax haven research, <a href="/wiki/James_R._Hines_Jr." title="James R. Hines Jr.">James R. Hines Jr.</a> Hines' 2010 list of <a href="/wiki/James_R._Hines_Jr.#Hines_2010_list" title="James R. Hines Jr.">10 major tax havens</a> only differs in its omission of the U.K., which in 2010, had only just reformed its corporate tax system.<sup id="cite_ref-h1_15-1" class="reference"><a href="#cite_note-h1-15"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> CORPNET's top 5 Conduits and top 5 Sinks closely reconcile with the <a href="/wiki/Corporate_haven#Corporate_tax_haven_lists" title="Corporate haven">top 10 major corporate tax havens</a> of other major academic and non–governmental organisation tax haven lists. Other tax academics have incorporated the research into their understanding of tax havens.<sup id="cite_ref-WPaidan.regan_44-0" class="reference"><a href="#cite_note-WPaidan.regan-44"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Conduit_OFCs">Conduit OFCs<span class="anchor" id="Conduit_OFC"></span></h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=3" title="Edit section: Conduit OFCs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Tax_haven#GDP-per-capita" title="Tax haven">Tax haven § GDP-per-capita</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:GIPC_Intellectual_Property_2018_(Patents_Sub-Category).png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png/220px-GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png" decoding="async" width="220" height="293" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png/330px-GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/53/GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png/440px-GIPC_Intellectual_Property_2018_%28Patents_Sub-Category%29.png 2x" data-file-width="680" data-file-height="906" /></a><figcaption>2018 <a href="/wiki/Global_Intellectual_Property_Center" class="mw-redirect" title="Global Intellectual Property Center">Global Innovation Property Centre</a> (GIPC) Legal Systems League Table: <i>Patents</i> Sub-Category.<sup id="cite_ref-gipc1_45-0" class="reference"><a href="#cite_note-gipc1-45"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>Conduit OFCs are described as having advanced legal and tax systems designed to enable corporations to route funds from high tax locations (e.g. Germany) to the sink OFCs (e.g. Bermuda). They tend to have attractive "holding company" regimes (e.g. no withholding taxes, foreign dividends exempt from taxes, capital gains reliefs, full double–tax relief), advanced tax treatment of intellectual property regimes, and large global networks of bilateral <a href="/wiki/Tax_treaties" class="mw-redirect" title="Tax treaties">tax treaties</a>.<sup id="cite_ref-xx_4-6" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-ft1_47-0" class="reference"><a href="#cite_note-ft1-47"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p><p>For example, CORPNET's five major conduit OFCs, all have a top–ten ranking in the 2018 <a href="/wiki/Global_Intellectual_Property_Center" class="mw-redirect" title="Global Intellectual Property Center">Global Innovation Property Centre</a> (GIPC) IP Index.<sup id="cite_ref-gipc1_45-1" class="reference"><a href="#cite_note-gipc1-45"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> IP has been described as the "raw materials of corporate tax avoidance",<sup id="cite_ref-raw_49-0" class="reference"><a href="#cite_note-raw-49"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> and "the leading corporate tax avoidance vehicle".<sup id="cite_ref-ucla_50-0" class="reference"><a href="#cite_note-ucla-50"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-fordam_51-0" class="reference"><a href="#cite_note-fordam-51"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> </p><p>Conduit OFCs are shown to be dominated by major law firms and global accounting firms, who create the lawfully constructed <a href="/wiki/Special_purpose_vehicles" class="mw-redirect" title="Special purpose vehicles">special purpose vehicles</a> (SPVs) and BEPS tools that make the connections with the sink OFCs, by exploiting legislative <a href="/wiki/Loopholes" class="mw-redirect" title="Loopholes">loopholes</a> such as the <a href="/wiki/Double_Irish" class="mw-redirect" title="Double Irish">Double Irish</a> and <a href="/wiki/Dutch_Sandwich" title="Dutch Sandwich">Dutch Sandwich</a>. They advise clients on anticipating future changes (e.g. from OECD BEPS processes), that may need new loopholes (e.g. the <a href="/wiki/Single_malt_arrangement" class="mw-redirect" title="Single malt arrangement">single malt arrangement</a>).<sup id="cite_ref-apple_52-0" class="reference"><a href="#cite_note-apple-52"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-xx_4-7" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Other researchers into tax havens have written that professional service firms in the major OECD and EU tax havens write most of their state's relevant taxation and SPV-related legislation, so that they can create and protect loopholes, and refer to such jurisdictions as being a "captured" by their financial services industry.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-jason_54-0" class="reference"><a href="#cite_note-jason-54"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> The legal and tax structuring undertaken by conduit OFCs is considered beyond the trust–structuring type work of the traditional tax haven "<a href="/wiki/Offshore_magic_circle" title="Offshore magic circle">offshore magic circle</a>" law firms. Conduit OFCs need structures that can integrate with bilateral tax treaties involving G20 countries, as well as meeting U.S. GAAP / SEC Regulations that U.S. multinationals, one of the largest users of conduit OFCs, need to adhere to.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p><p>CORPNET's top five global conduit OFCs channel 47% of corporate offshore connections and include the following:<sup id="cite_ref-xx_4-8" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p> <div><ol style="list-style-type:lower-roman"><li><span data-sort-value="Netherlands"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/23px-Flag_of_the_Netherlands.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/35px-Flag_of_the_Netherlands.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/45px-Flag_of_the_Netherlands.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Netherlands" title="Netherlands">Netherlands</a></span> – the largest global conduit OFC (by total connections), with dense links from the EU–28 (via the "<a href="/wiki/Dutch_Sandwich" title="Dutch Sandwich">Dutch Sandwich</a>"), to the EU sink OFC of Luxembourg, and the Caribbean sink OFC "triad" of Bermuda/BVI/Cayman.<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-guar_1-2" class="reference"><a href="#cite_note-guar-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup></li><li><span data-sort-value="United Kingdom"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/23px-Flag_of_the_United_Kingdom.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/35px-Flag_of_the_United_Kingdom.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/46px-Flag_of_the_United_Kingdom.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a></span> – second-largest conduit OFC (by total connections), with dense links from Europe to Asia; 18 of the 24 sink OFCs are current, or past, dependencies of the UK (see table on sink OFCs).<sup id="cite_ref-bloom_2-2" class="reference"><a href="#cite_note-bloom-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup></li><li><span data-sort-value="Switzerland"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/15px-Flag_of_Switzerland_%28Pantone%29.svg.png" decoding="async" width="15" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/23px-Flag_of_Switzerland_%28Pantone%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/30px-Flag_of_Switzerland_%28Pantone%29.svg.png 2x" data-file-width="512" data-file-height="512" /></span></span>  </span><a href="/wiki/Switzerland" title="Switzerland">Switzerland</a></span> – a major conduit OFC with a very dense network of connections with Jersey, the fourth-largest sink OFC.<sup id="cite_ref-guar_1-3" class="reference"><a href="#cite_note-guar-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-xx_4-9" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li><li><span data-sort-value="Singapore"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/23px-Flag_of_Singapore.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/35px-Flag_of_Singapore.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/45px-Flag_of_Singapore.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Singapore" title="Singapore">Singapore</a></span> – the main conduit OFC for Asia, and densely connected to the two major Asian sink OFCs of Hong Kong and Taiwan.<sup id="cite_ref-xx_4-10" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li><li><span data-sort-value="Ireland"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/23px-Flag_of_Ireland.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/35px-Flag_of_Ireland.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/46px-Flag_of_Ireland.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Ireland" title="Ireland">Ireland</a></span> – very dense connections with the US (see <a href="/wiki/Ireland_as_a_tax_haven" title="Ireland as a tax haven">Ireland as a tax haven</a>),<sup id="cite_ref-guar_1-4" class="reference"><a href="#cite_note-guar-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> with very dense connections to sink OFC Luxembourg, an established "backdoor" out of the Irish tax system.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup></li></ol></div> <div class="mw-heading mw-heading2"><h2 id="Sink_OFCs">Sink OFCs<span class="anchor" id="Sink_OFC"></span></h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=4" title="Edit section: Sink OFCs"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:List_of_sink-OFCs,_ordered_by_sink_centrality_value.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png/220px-List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png" decoding="async" width="220" height="140" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png/330px-List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2f/List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png/440px-List_of_sink-OFCs%2C_ordered_by_sink_centrality_value.png 2x" data-file-width="610" data-file-height="389" /></a><figcaption>"Uncovering Offshore Financial Centers": List of Sink OFCs ordered by value (showing U.K. dependencies).<sup id="cite_ref-xx_4-11" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>Sink OFCs cover a broad range of locations from very small countries (e.g. the Marshall Islands), to major global <a href="/wiki/Financial_centres" class="mw-redirect" title="Financial centres">financial centres</a> (e.g. Hong Kong).<sup id="cite_ref-xx_4-12" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Just because funds reach a Sink OFC, does not mean that they remain dormant. Quite the contrary, the funds can be invested in assets all over the world, but their legal ownership and future gains remain in the Sink OFC. For example, the circa US$1 trillion of US company offshore cash is held in Sink OFCs (esp. the Caribbean).<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-65" class="reference"><a href="#cite_note-65"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> </p><p>The CORPNET Report highlighted some interesting aspects of the 24 Sink OFCs:<sup id="cite_ref-xx_4-13" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div><ol style="list-style-type:lower-roman"><li><a href="/wiki/British_Virgin_Islands" title="British Virgin Islands">British Virgin Islands</a> – in terms of connections, the BVI was the "Netherlands of sink OFCs" and heavily linked with the conduit OFC United Kingdom.</li><li><a href="/wiki/Luxembourg" title="Luxembourg">Luxembourg</a> and <a href="/wiki/Hong_Kong" title="Hong Kong">Hong Kong</a> – could have been considered conduit OFCs, but CORPNET's research showed they are even bigger sink OFCs (i.e. long-term homes for funds) for routing funds out of high-tax EU countries (Luxembourg) and out of China (Hong Kong).</li><li><a href="/wiki/Jersey" title="Jersey">Jersey</a> – remains a unique link with major conduit OFC, Switzerland (because the study could not capture individual "Jersey trusts", it noted that the scale of Jersey could still be understated).</li><li><a href="/wiki/Bermuda" title="Bermuda">Bermuda</a>, British Virgin Islands, <a href="/wiki/Cayman_Islands" title="Cayman Islands">Cayman Islands</a> Triad – these three traditional tax havens are heavily interlinked and starting to present as one large Sink OFC.</li><li><a href="/wiki/Taiwan" title="Taiwan">Taiwan</a> – has been a controversial entrant on several tax haven lists, and is identified as the 2nd largest Asian Sink OFC.</li><li>Cayman Islands – the Cayman Islands are becoming the biggest financial centre for Central and Latin America.<sup id="cite_ref-66" class="reference"><a href="#cite_note-66"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup></li><li><a href="/wiki/Malta" title="Malta">Malta</a> – the report highlights the rise of sink OFC Malta as an emerging tax haven "inside" the EU,<sup id="cite_ref-67" class="reference"><a href="#cite_note-67"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-68" class="reference"><a href="#cite_note-68"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> which has been a source of wider media scrutiny.<sup id="cite_ref-69" class="reference"><a href="#cite_note-69"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup></li><li><a href="/wiki/Mauritius" title="Mauritius">Mauritius</a> – has become a major Sink OFC for both SE Asia (especially India), and African economies, and now ranking 8th overall.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup></li></ol></div> <div class="mw-heading mw-heading2"><h2 id="OECD_failings">OECD failings</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=5" title="Edit section: OECD failings"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1224211176">.mw-parser-output .quotebox{background-color:#F9F9F9;border:1px solid #aaa;box-sizing:border-box;padding:10px;font-size:88%;max-width:100%}.mw-parser-output .quotebox.floatleft{margin:.5em 1.4em .8em 0}.mw-parser-output .quotebox.floatright{margin:.5em 0 .8em 1.4em}.mw-parser-output .quotebox.centered{overflow:hidden;position:relative;margin:.5em auto .8em auto}.mw-parser-output .quotebox.floatleft span,.mw-parser-output .quotebox.floatright span{font-style:inherit}.mw-parser-output .quotebox>blockquote{margin:0;padding:0;border-left:0;font-family:inherit;font-size:inherit}.mw-parser-output .quotebox-title{text-align:center;font-size:110%;font-weight:bold}.mw-parser-output .quotebox-quote>:first-child{margin-top:0}.mw-parser-output .quotebox-quote:last-child>:last-child{margin-bottom:0}.mw-parser-output .quotebox-quote.quoted:before{font-family:"Times New Roman",serif;font-weight:bold;font-size:large;color:gray;content:" “ ";vertical-align:-45%;line-height:0}.mw-parser-output .quotebox-quote.quoted:after{font-family:"Times New Roman",serif;font-weight:bold;font-size:large;color:gray;content:" ” ";line-height:0}.mw-parser-output .quotebox .left-aligned{text-align:left}.mw-parser-output .quotebox .right-aligned{text-align:right}.mw-parser-output .quotebox .center-aligned{text-align:center}.mw-parser-output .quotebox .quote-title,.mw-parser-output .quotebox .quotebox-quote{display:block}.mw-parser-output .quotebox cite{display:block;font-style:normal}@media screen and (max-width:640px){.mw-parser-output .quotebox{width:100%!important;margin:0 0 .8em!important;float:none!important}}</style><div class="quotebox pullquote floatright" style="width:19em; border-width: 1px; color: #202122;background-color: #c6dbf7;"> <blockquote class="quotebox-quote left-aligned" style=""> <p>Of the wider tax environment, O'Rourke thinks the OECD base–erosion and profit–shifting (BEPS) process is "very good" for Ireland. "If BEPS sees itself to a conclusion, it will be good for Ireland". </p> </blockquote> <p style="padding-bottom: 0;"><cite class="left-aligned" style=""><a href="/wiki/Feargal_O%27Rourke" title="Feargal O'Rourke">Feargal O'Rourke</a> CEO PwC (Ireland)<br />Cited "architect" of the <a href="/wiki/Double_Irish" class="mw-redirect" title="Double Irish">Double Irish</a> BEPS tool<sup id="cite_ref-for0_71-0" class="reference"><a href="#cite_note-for0-71"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-for1_72-0" class="reference"><a href="#cite_note-for1-72"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup><br />Irish Times, 2015<sup id="cite_ref-fer_73-0" class="reference"><a href="#cite_note-fer-73"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup></cite></p> </div> <p>An example of an IP–based <a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">BEPS tool</a> is Ireland's <a href="/wiki/Double_Irish_arrangement#Backstop_of_capital_allowances" title="Double Irish arrangement">Capital Allowances for Intangible Assets</a> (CAIA) tool, also known as the "<a href="/wiki/Ireland_as_a_tax_haven#Green_Jersey" title="Ireland as a tax haven">Green Jersey</a>", which has an <a href="/wiki/Corporation_tax_in_the_Republic_of_Ireland#Effective_tax_rate_(ETR)" title="Corporation tax in the Republic of Ireland">effective tax rate</a> of 0–2.5%. Apple used the CAIA (or Green Jersey) BEPS tool in Q1 2015, resulting in the "<a href="/wiki/Leprechaun_economics" title="Leprechaun economics">leprechaun economics</a>" restatement of Irish GDP by 34.4 percent. Ireland has other IP–based <a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">BEPS tools</a> (Ireland as the first OECD nexus-compliant <a href="/wiki/Corporation_tax_in_the_Republic_of_Ireland#Knowledge_Development_Box" title="Corporation tax in the Republic of Ireland">KDB</a>),<sup id="cite_ref-74" class="reference"><a href="#cite_note-74"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup> and is a supporter of the <a href="/wiki/Base_erosion_and_profit_shifting_(OECD_project)" title="Base erosion and profit shifting (OECD project)">OECD BEPS project</a> (see box).<sup id="cite_ref-fer_73-1" class="reference"><a href="#cite_note-fer-73"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Isle_of_Man_omitted">Isle of Man omitted</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=6" title="Edit section: Isle of Man omitted"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Isle of Man (the "IOM") was absent from the list of top sink OFCs. The IOM appears on tax–haven lists and ranks 42 on the 2018 <a href="/wiki/Financial_Secrecy_Index" title="Financial Secrecy Index">Financial Secrecy Index</a>.<sup id="cite_ref-75" class="reference"><a href="#cite_note-75"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-76" class="reference"><a href="#cite_note-76"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> </p><p>The Chief Minister of the IOM, <a href="/wiki/Howard_Quayle" title="Howard Quayle">Howard Quayle</a>, announced that the CORPNET report proved that the IOM is not a tax haven.<sup id="cite_ref-77" class="reference"><a href="#cite_note-77"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-78" class="reference"><a href="#cite_note-78"><span class="cite-bracket">[</span>75<span class="cite-bracket">]</span></a></sup> However, CORPNET researchers from the University of Amsterdam directly replied to Howard Quayle's article<sup id="cite_ref-79" class="reference"><a href="#cite_note-79"><span class="cite-bracket">[</span>76<span class="cite-bracket">]</span></a></sup> clarifying that while the IOM does not appear as a leading sink OFC for corporate tax avoidance, it does not mean that individuals (personal bank accounts and trusts) do not use the IOM to avoid taxes, and particularly United Kingdom VAT. </p><p>Other commentators have added that the IOM is "failing as a tax haven", and is now too small to appear in major studies like the CORPNET research.<sup id="cite_ref-80" class="reference"><a href="#cite_note-80"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Ireland_underestimated">Ireland underestimated</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=7" title="Edit section: Ireland underestimated"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Corporate_tax_haven" class="mw-redirect" title="Corporate tax haven">Corporate tax haven</a> and <a href="/wiki/Ireland_as_a_tax_haven" title="Ireland as a tax haven">Ireland as a tax haven</a></div> <p>The CORPNET report used legal corporate connections on the <a href="/wiki/Bureau_van_Dijk" title="Bureau van Dijk">Orbis database</a>, rather than the actual "quantum" of money, as its primary metric of analysis. In theory, the authors felt that this does not impede the goal of classification, and of making relative rankings. However, it does mean the "monetary amount" of potential tax avoidance was not calculated.<sup id="cite_ref-xx_4-14" class="reference"><a href="#cite_note-xx-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>The tax haven academic and author of <i><a href="/wiki/The_Hidden_Wealth_of_Nations" title="The Hidden Wealth of Nations">The Hidden Wealth of Nations</a></i>, <a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a>, used a different quantitative approach. Zucman focused on macro–data of national statistical accounts. In theory, the total assets in a system should equal the total liabilities. By aggregating national account data, Zucman identified an excess of liabilities over assets, implying that the missing assets (to balance the equation), are hidden in tax–havens. On this basis, in 2015, he estimated that 8% of the world's wealth (or US$7.6 trillion) was "missing" in offshore tax–havens.<sup id="cite_ref-81" class="reference"><a href="#cite_note-81"><span class="cite-bracket">[</span>78<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Zucman_82-0" class="reference"><a href="#cite_note-Zucman-82"><span class="cite-bracket">[</span>79<span class="cite-bracket">]</span></a></sup> </p><p>Zucman's analysis highlighted the special case of Ireland and why the Orbis database underestimates Ireland's scale as one of the world's largest corporate tax avoidance, or <a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">BEPS</a>, hubs.<sup id="cite_ref-zucc_83-0" class="reference"><a href="#cite_note-zucc-83"><span class="cite-bracket">[</span>80<span class="cite-bracket">]</span></a></sup> In 2018, Zucman (<i>et alia</i>) showed that many of Ireland's U.S. multinationals don't appear on Orbis (e.g. Facebook), or only have a small fraction of their data on Orbis (e.g. Google and Apple). Analysed using "quantum of funds" (not "Orbis connections"), Zucman showed Ireland is one of the largest corporate tax shelters in the world, and a route for Zucman's estimated loss of 20% in EU corporate tax revenues annually.<sup id="cite_ref-zuc_11-1" class="reference"><a href="#cite_note-zuc-11"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Irish_Times_12-3" class="reference"><a href="#cite_note-Irish_Times-12"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-gabzucucwsj_13-3" class="reference"><a href="#cite_note-gabzucucwsj-13"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=8" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Corporate_tax_haven" class="mw-redirect" title="Corporate tax haven">Corporate tax haven</a></li> <li><a href="/wiki/Tax_haven" title="Tax haven">Tax haven</a></li> <li><a href="/wiki/Offshore_financial_centre" title="Offshore financial centre">Offshore financial centre</a></li> <li><a href="/wiki/Financial_centre" title="Financial centre">Financial centre</a></li> <li><a href="/wiki/Base_erosion_and_profit_shifting" title="Base erosion and profit shifting">Base erosion and profit shifting</a></li> <li><a href="/wiki/Double_Irish_arrangement" title="Double Irish arrangement">Double Irish arrangement</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=9" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-lower-alpha"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">See the table below for the list of the sinks.</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text">The conduits are: Netherlands, United Kingdom, Switzerland, Singapore, and Ireland.</span> </li> <li id="cite_note-def-9"><span class="mw-cite-backlink">^ <a href="#cite_ref-def_9-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-def_9-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">As discussed in the <i>Definitions</i> sections of tax havens, and of <a href="/wiki/Offshore_financial_centres" class="mw-redirect" title="Offshore financial centres">offshore financial centres</a>, most tax academics consider the terms as being synonymous and use them inter–changeably</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=10" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-guar-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-guar_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-guar_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-guar_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-guar_1-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-guar_1-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFDaniel_Boffey2017" class="citation news cs1">Daniel Boffey (25 July 2017). <a rel="nofollow" class="external text" href="https://www.theguardian.com/world/2017/jul/25/netherlands-and-uk-are-biggest-channels-for-corporate-tax-avoidance">"Netherlands and UK are biggest channels for corporate tax avoidance"</a>. <i><a href="/wiki/The_Guardian" title="The Guardian">The Guardian</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180524223447/https://www.theguardian.com/world/2017/jul/25/netherlands-and-uk-are-biggest-channels-for-corporate-tax-avoidance">Archived</a> from the original on 24 May 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>Almost 40% of corporate investments channelled away from authorities and into tax havens travel through the UK or the Netherlands, according to a study of the ownership structures of 98m firms.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=Netherlands+and+UK+are+biggest+channels+for+corporate+tax+avoidance&rft.date=2017-07-25&rft.au=Daniel+Boffey&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fworld%2F2017%2Fjul%2F25%2Fnetherlands-and-uk-are-biggest-channels-for-corporate-tax-avoidance&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-bloom-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-bloom_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-bloom_2-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-bloom_2-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHugo_Millar2017" class="citation web cs1">Hugo Millar (31 July 2017). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2017-07-31/is-the-u-k-already-the-kind-of-tax-haven-it-claims-it-won-t-be">"Is the U.K. Already the Kind of Tax Haven It Claims It Won't Be?"</a>. <a href="/wiki/Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180613185644/https://www.bloomberg.com/news/articles/2017-07-31/is-the-u-k-already-the-kind-of-tax-haven-it-claims-it-won-t-be">Archived</a> from the original on 13 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>The U.K. is the second biggest offshore financial centre for the 'conduit' of money to small 'sink' tax havens like the British Virgin Islands or Cayman Islands, researchers at University of Amsterdam have concluded in a report publisher in Nature.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Is+the+U.K.+Already+the+Kind+of+Tax+Haven+It+Claims+It+Won%27t+Be%3F&rft.pub=Bloomberg+News&rft.date=2017-07-31&rft.au=Hugo+Millar&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2017-07-31%2Fis-the-u-k-already-the-kind-of-tax-haven-it-claims-it-won-t-be&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-bloom2-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-bloom2_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-bloom2_3-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMark_Buchanan2017" class="citation web cs1">Mark Buchanan (11 April 2017). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/view/articles/2017-04-11/tax-havens-can-be-surprisingly-close-to-home">"Tax Havens Can Be Surprisingly Close to Home"</a>. <a href="/wiki/Bloomberg_View" class="mw-redirect" title="Bloomberg View">Bloomberg View</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180617093018/https://www.bloomberg.com/view/articles/2017-04-11/tax-havens-can-be-surprisingly-close-to-home">Archived</a> from the original on 17 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">10 June</span> 2018</span>. <q>The U.K., the Netherlands and Switzerland play bigger roles than they might have realized.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Tax+Havens+Can+Be+Surprisingly+Close+to+Home&rft.pub=Bloomberg+View&rft.date=2017-04-11&rft.au=Mark+Buchanan&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fview%2Farticles%2F2017-04-11%2Ftax-havens-can-be-surprisingly-close-to-home&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-xx-4"><span class="mw-cite-backlink">^ <a href="#cite_ref-xx_4-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-xx_4-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-xx_4-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-xx_4-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-xx_4-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-xx_4-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-xx_4-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-xx_4-7"><sup><i><b>h</b></i></sup></a> <a href="#cite_ref-xx_4-8"><sup><i><b>i</b></i></sup></a> <a href="#cite_ref-xx_4-9"><sup><i><b>j</b></i></sup></a> <a href="#cite_ref-xx_4-10"><sup><i><b>k</b></i></sup></a> <a href="#cite_ref-xx_4-11"><sup><i><b>l</b></i></sup></a> <a href="#cite_ref-xx_4-12"><sup><i><b>m</b></i></sup></a> <a href="#cite_ref-xx_4-13"><sup><i><b>n</b></i></sup></a> <a href="#cite_ref-xx_4-14"><sup><i><b>o</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJavier_Garcia-BernardoJan_FichtnerFrank_W._TakesEelke_M._Heemskerk2017" class="citation journal cs1">Javier Garcia-Bernardo; Jan Fichtner; Frank W. Takes; Eelke M. Heemskerk (24 July 2017). <a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5524793">"Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network"</a>. <i>Scientific Reports</i>. <b>7</b> (6246): 6246. <a href="/wiki/ArXiv_(identifier)" class="mw-redirect" title="ArXiv (identifier)">arXiv</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://arxiv.org/abs/1703.03016">1703.03016</a></span>. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2017NatSR...7.6246G">2017NatSR...7.6246G</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1038%2Fs41598-017-06322-9">10.1038/s41598-017-06322-9</a>. <a href="/wiki/PMC_(identifier)" class="mw-redirect" title="PMC (identifier)">PMC</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5524793">5524793</a></span>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/28740120">28740120</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Scientific+Reports&rft.atitle=Uncovering+Offshore+Financial+Centers%3A+Conduits+and+Sinks+in+the+Global+Corporate+Ownership+Network&rft.volume=7&rft.issue=6246&rft.pages=6246&rft.date=2017-07-24&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC5524793%23id-name%3DPMC&rft_id=info%3Abibcode%2F2017NatSR...7.6246G&rft_id=info%3Aarxiv%2F1703.03016&rft_id=info%3Apmid%2F28740120&rft_id=info%3Adoi%2F10.1038%2Fs41598-017-06322-9&rft.au=Javier+Garcia-Bernardo&rft.au=Jan+Fichtner&rft.au=Frank+W.+Takes&rft.au=Eelke+M.+Heemskerk&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC5524793&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-conversation-5"><span class="mw-cite-backlink">^ <a href="#cite_ref-conversation_5-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-conversation_5-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-conversation_5-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFProfessor_Eelke_Heemskerk2017" class="citation web cs1">Professor Eelke Heemskerk (7 November 2017). <a rel="nofollow" class="external text" href="https://theconversation.com/these-five-countries-are-conduits-for-the-worlds-biggest-tax-havens-79555">"These five countries are conduits for the world's biggest tax havens"</a>. <a href="/wiki/The_Conversation_(website)" title="The Conversation (website)">The Conversation</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180706162001/http://theconversation.com/these-five-countries-are-conduits-for-the-worlds-biggest-tax-havens-79555">Archived</a> from the original on 6 July 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=These+five+countries+are+conduits+for+the+world%27s+biggest+tax+havens&rft.pub=The+Conversation&rft.date=2017-11-07&rft.au=Professor+Eelke+Heemskerk&rft_id=https%3A%2F%2Ftheconversation.com%2Fthese-five-countries-are-conduits-for-the-worlds-biggest-tax-havens-79555&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-RTEconduit-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-RTEconduit_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-RTEconduit_6-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://www.rte.ie/brainstorm/2017/0725/892887-these-countries-are-conduits-for-the-worlds-biggest-tax-havens/">"The countries which are conduits for the biggest tax havens"</a>. <i>RTÉ.ie</i>. <a href="/wiki/RTE_News" class="mw-redirect" title="RTE News">RTE News</a>. 25 September 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190426120033/https://www.rte.ie/brainstorm/2017/0725/892887-these-countries-are-conduits-for-the-worlds-biggest-tax-havens/">Archived</a> from the original on 26 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">25 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=RT%C3%89.ie&rft.atitle=The+countries+which+are+conduits+for+the+biggest+tax+havens&rft.date=2017-09-25&rft_id=https%3A%2F%2Fwww.rte.ie%2Fbrainstorm%2F2017%2F0725%2F892887-these-countries-are-conduits-for-the-worlds-biggest-tax-havens%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-pana2-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-pana2_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-pana2_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFProfessor_Brigitte_Unger2017" class="citation web cs1 cs1-prop-interwiki-linked-name"><a href="https://de.wikipedia.org/wiki/Brigitte_Unger" class="extiw" title="de:Brigitte Unger">Professor Brigitte Unger</a> <span class="cs1-format">[in German]</span> (March 2017). <a rel="nofollow" class="external text" href="http://www.europarl.europa.eu/cmsdata/115250/PANA%202016-04%20ST%20Offshore%20activities%20Final.pdf">"Offshore activities and money laundering: recent findings and challenges"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/European_Parliament" title="European Parliament">European Parliament</a>. pp. 39–42<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>Section 7.1. Offshore Centers are a European problem: [..] Against the idea of OFCs as exotic Caribbean islands, the authors show that many OFCs are highly developed countries.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Offshore+activities+and+money+laundering%3A+recent+findings+and+challenges&rft.pages=39-42&rft.pub=European+Parliament&rft.date=2017-03&rft.au=Professor+Brigitte+Unger&rft_id=http%3A%2F%2Fwww.europarl.europa.eu%2Fcmsdata%2F115250%2FPANA%25202016-04%2520ST%2520Offshore%2520activities%2520Final.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-zuc-11"><span class="mw-cite-backlink">^ <a href="#cite_ref-zuc_11-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-zuc_11-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGabriel_Zucman2018" class="citation web cs1"><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a> (April 2018). <a rel="nofollow" class="external text" href="http://gabriel-zucman.eu/files/TWZ2018Slides.pdf">"The Missing Profits of Nations"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/National_Bureau_of_Economic_Research" title="National Bureau of Economic Research">National Bureau of Economic Research</a>, Working Papers. pp. 11–15. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180612141342/http://gabriel-zucman.eu/files/TWZ2018Slides.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 12 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>Slide 11: Issues with previous literature on global profit shifting</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Missing+Profits+of+Nations&rft.pages=11-15&rft.pub=National+Bureau+of+Economic+Research%2C+Working+Papers&rft.date=2018-04&rft.au=Gabriel+Zucman&rft_id=http%3A%2F%2Fgabriel-zucman.eu%2Ffiles%2FTWZ2018Slides.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-Irish_Times-12"><span class="mw-cite-backlink">^ <a href="#cite_ref-Irish_Times_12-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Irish_Times_12-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Irish_Times_12-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-Irish_Times_12-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMark_Paul2018" class="citation news cs1">Mark Paul (13 June 2018). <a rel="nofollow" class="external text" href="https://www.irishtimes.com/business/economy/ireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401">"Ireland is the world's biggest corporate 'tax haven', say academics"</a>. <i>The Irish Times</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180824044322/https://www.irishtimes.com/business/economy/ireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401">Archived</a> from the original on 24 August 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>Study claims State shelters more multinational profits than the entire Caribbean</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Irish+Times&rft.atitle=Ireland+is+the+world%27s+biggest+corporate+%27tax+haven%27%2C+say+academics&rft.date=2018-06-13&rft.au=Mark+Paul&rft_id=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Feconomy%2Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401%3Fmode%3Dsample%26auth-failed%3D1%26pw-origin%3Dhttps%253A%252F%252Fwww.irishtimes.com%252Fbusiness%252Feconomy%252Fireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-gabzucucwsj-13"><span class="mw-cite-backlink">^ <a href="#cite_ref-gabzucucwsj_13-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-gabzucucwsj_13-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-gabzucucwsj_13-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-gabzucucwsj_13-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRichard_Rubin2018" class="citation news cs1">Richard Rubin (10 June 2018). <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/corporations-push-profits-into-tax-havens-as-countries-struggle-in-pursuit-study-says-1528634659">"Zucman:Corporations Push Profits into Corporate Tax Havens as Countries Struggle in Pursuit, Gabrial Zucman Study Says"</a>. <i><a href="/wiki/The_Wall_Street_Journal" title="The Wall Street Journal">The Wall Street Journal</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190404203053/https://www.wsj.com/articles/corporations-push-profits-into-tax-havens-as-countries-struggle-in-pursuit-study-says-1528634659">Archived</a> from the original on 4 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>The new research draws on data from countries such as Ireland, Luxembourg and the Netherlands that hadn't previously been collected.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Zucman%3ACorporations+Push+Profits+into+Corporate+Tax+Havens+as+Countries+Struggle+in+Pursuit%2C+Gabrial+Zucman+Study+Says&rft.date=2018-06-10&rft.au=Richard+Rubin&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcorporations-push-profits-into-tax-havens-as-countries-struggle-in-pursuit-study-says-1528634659&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-eup-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-eup_14-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://ec.europa.eu/info/sites/info/files/dp_055_en.pdf">"Banks in Tax Havens: First Evidence based on Country–by–Country Reporting"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/EU_Commission" class="mw-redirect" title="EU Commission">EU Commission</a>. July 2017. p. 50. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180623170004/https://ec.europa.eu/info/sites/info/files/dp_055_en.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 23 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">15 August</span> 2018</span>. <q>Figure D: Tax Haven Literature Review: A Typology</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Banks+in+Tax+Havens%3A+First+Evidence+based+on+Country%E2%80%93by%E2%80%93Country+Reporting&rft.pages=50&rft.pub=EU+Commission&rft.date=2017-07&rft_id=https%3A%2F%2Fec.europa.eu%2Finfo%2Fsites%2Finfo%2Ffiles%2Fdp_055_en.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-h1-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-h1_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-h1_15-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJames_R._Hines_Jr.2010" class="citation journal cs1"><a href="/wiki/James_R._Hines_Jr" class="mw-redirect" title="James R. Hines Jr">James R. Hines Jr.</a> (2010). <a rel="nofollow" class="external text" href="https://repository.law.umich.edu/cgi/viewcontent.cgi?referer=https://www.google.ie/&httpsredir=1&article=1716&context=articles">"Treasure Islands"</a>. <i><a href="/wiki/Journal_of_Economic_Perspectives" title="Journal of Economic Perspectives">Journal of Economic Perspectives</a></i>. <b>4</b> (24): 103–125. <q>Table 1: 52 Tax Havens</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Perspectives&rft.atitle=Treasure+Islands&rft.volume=4&rft.issue=24&rft.pages=103-125&rft.date=2010&rft.au=James+R.+Hines+Jr.&rft_id=https%3A%2F%2Frepository.law.umich.edu%2Fcgi%2Fviewcontent.cgi%3Freferer%3Dhttps%3A%2F%2Fwww.google.ie%2F%26httpsredir%3D1%26article%3D1716%26context%3Darticles&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-h2-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-h2_16-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJames_R._Hines_Jr.2007" class="citation web cs1"><a href="/wiki/James_R._Hines_Jr" class="mw-redirect" title="James R. Hines Jr">James R. Hines Jr.</a> (2007). <a rel="nofollow" class="external text" href="http://www.bus.umich.edu/otpr/WP2007-3.pdf">"Tax Havens"</a> <span class="cs1-format">(PDF)</span>. University of Michigan. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160924214243/http://www.bus.umich.edu/otpr/WP2007-3.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 24 September 2016<span class="reference-accessdate">. Retrieved <span class="nowrap">15 August</span> 2018</span>. <q>There are roughly 45 major tax havens in the world today. Examples include Andorra, Ireland, Luxembourg and Monaco in Europe, Hong Kong and Singapore in Asia, and the Cayman Islands, the Netherlands Antilles, and Panama in the Americas.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Tax+Havens&rft.pub=University+of+Michigan&rft.date=2007&rft.au=James+R.+Hines+Jr.&rft_id=http%3A%2F%2Fwww.bus.umich.edu%2Fotpr%2FWP2007-3.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-h3-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-h3_17-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJames_R._Hines_Jr.Eric_M._Rice1994" class="citation journal cs1"><a href="/wiki/James_R._Hines_Jr" class="mw-redirect" title="James R. Hines Jr">James R. Hines Jr.</a>; Eric M. Rice (February 1994). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170825172644/http://taxdoctoralseminar.web.unc.edu/files/2016/02/Hines-Rice.pdf">"FISCAL PARADISE: FOREIGN TAX HAVENS AND AMERICAN BUSINESS"</a> <span class="cs1-format">(PDF)</span>. <i>Quarterly Journal of Economics (Harvard/MIT)</i>. <b>9</b> (1). Archived from <a rel="nofollow" class="external text" href="http://taxdoctoralseminar.web.unc.edu/files/2016/02/Hines-Rice.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 25 August 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">15 August</span> 2018</span>. <q>We identify 41 countries and regions as tax havens for the purposes of U. S. businesses. Together the seven tax havens with populations greater than one million (Hong Kong, Ireland, Liberia, Lebanon, Panama, Singapore, and Switzerland) account for 80 percent of total tax haven population and 89 percent of tax haven GDP.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Quarterly+Journal+of+Economics+%28Harvard%2FMIT%29&rft.atitle=FISCAL+PARADISE%3A+FOREIGN+TAX+HAVENS+AND+AMERICAN+BUSINESS&rft.volume=9&rft.issue=1&rft.date=1994-02&rft.au=James+R.+Hines+Jr.&rft.au=Eric+M.+Rice&rft_id=http%3A%2F%2Ftaxdoctoralseminar.web.unc.edu%2Ffiles%2F2016%2F02%2FHines-Rice.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-d1-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-d1_18-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDhammika_DharmapalaJames_R._Hines_Jr.2009" class="citation journal cs1"><a href="/wiki/Dhammika_Dharmapala" title="Dhammika Dharmapala">Dhammika Dharmapala</a>; <a href="/wiki/James_R._Hines_Jr" class="mw-redirect" title="James R. Hines Jr">James R. Hines Jr.</a> (2009). <a rel="nofollow" class="external text" href="http://faculty.smu.edu/millimet/classes/eco6375/papers/dharmapala%20hines.pdf">"Which countries become tax havens?"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Journal_of_Public_Economics" title="Journal of Public Economics">Journal of Public Economics</a></i>. <b>93</b> (9–10): 1058–1068. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.jpubeco.2009.07.005">10.1016/j.jpubeco.2009.07.005</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:16653726">16653726</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170808070113/http://faculty.smu.edu/millimet/classes/eco6375/papers/dharmapala%20hines.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 8 August 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">15 August</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Public+Economics&rft.atitle=Which+countries+become+tax+havens%3F&rft.volume=93&rft.issue=9%E2%80%9310&rft.pages=1058-1068&rft.date=2009&rft_id=info%3Adoi%2F10.1016%2Fj.jpubeco.2009.07.005&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A16653726%23id-name%3DS2CID&rft.au=Dhammika+Dharmapala&rft.au=James+R.+Hines+Jr.&rft_id=http%3A%2F%2Ffaculty.smu.edu%2Fmillimet%2Fclasses%2Feco6375%2Fpapers%2Fdharmapala%2520hines.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-gbz-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-gbz_19-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGabriel_ZucmanThomas_TorslovLudvig_Wier2018" class="citation web cs1"><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a>; Thomas Torslov; Ludvig Wier (June 2018). <a rel="nofollow" class="external text" href="http://gabriel-zucman.eu/missingprofits/">"The Missing Profits of Nations"</a>. <a href="/wiki/National_Bureau_of_Economic_Research" title="National Bureau of Economic Research">National Bureau of Economic Research</a>, Working Papers. p. 31. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190402221958/http://gabriel-zucman.eu/missingprofits/">Archived</a> from the original on 2 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">15 August</span> 2018</span>. <q>Appendix Table 2: Tax Havens</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Missing+Profits+of+Nations&rft.pages=31&rft.pub=National+Bureau+of+Economic+Research%2C+Working+Papers&rft.date=2018-06&rft.au=Gabriel+Zucman&rft.au=Thomas+Torslov&rft.au=Ludvig+Wier&rft_id=http%3A%2F%2Fgabriel-zucman.eu%2Fmissingprofits%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-OECD_havens-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-OECD_havens_20-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.oecd.org/ctp/harmful/2090192.pdf">"Towards Global Tax Co-operation"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/OECD" title="OECD">OECD</a>. April 2000. p. 17. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180331040150/http://www.oecd.org/ctp/harmful/2090192.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 31 March 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>. <q>TAX HAVENS: 1.Andorra 2.Anguilla 3.Antigua and Barbuda 4.Aruba 5.Bahamas 6.Bahrain 7.Barbados 8.Belize 9.British Virgin Islands 10.Cook Islands 11.Dominica 12.Gibraltar 13.Grenada 14.Guernsey 15.Isle of Man 16.Jersey 17.Liberia 18.Liechtenstein 19.Maldives 20.Marshall Islands 21.Monaco 22.Montserrat 23.Nauru 24.Net Antilles 25.Niue 26.Panama 27.Samoa 28.Seychelles 29.St. Lucia 30.St. Kitts & Nevis 31.St. Vincent and the Grenadines 32.Tonga 33.Turks & Caicos 34.U.S. Virgin Islands 35.Vanuatu</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Towards+Global+Tax+Co-operation&rft.pages=17&rft.pub=OECD&rft.date=2000-04&rft_id=http%3A%2F%2Fwww.oecd.org%2Fctp%2Fharmful%2F2090192.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVanessa_Houlder2017" class="citation news cs1">Vanessa Houlder (September 2017). <a rel="nofollow" class="external text" href="https://www.ft.com/content/94d84054-5bf0-11e7-b553-e2df1b0c3220">"Trinidad & Tobago left as the last blacklisted tax haven"</a>. <i><a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20181215124710/https://www.ft.com/content/94d84054-5bf0-11e7-b553-e2df1b0c3220">Archived</a> from the original on 15 December 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>Alex Cobham of the <a href="/wiki/Tax_Justice_Network" title="Tax Justice Network">Tax Justice Network</a> said: It's disheartening to see the OECD fall back into the old pattern of creating 'tax haven' blacklists on the basis of criteria that are so weak as to be near enough meaningless, and then declaring success when the list is empty".</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=Trinidad+%26+Tobago+left+as+the+last+blacklisted+tax+haven&rft.date=2017-09&rft.au=Vanessa+Houlder&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2F94d84054-5bf0-11e7-b553-e2df1b0c3220&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-IMFJune2000-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-IMFJune2000_22-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.imf.org/external/np/mae/oshore/2000/eng/back.htm">"Offshore Financial Centers: IMF Background Paper"</a>. <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a>. 23 June 2000. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180823044230/http://www.imf.org/external/np/mae/oshore/2000/eng/back.htm">Archived</a> from the original on 23 August 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Offshore+Financial+Centers%3A+IMF+Background+Paper&rft.pub=International+Monetary+Fund&rft.date=2000-06-23&rft_id=https%3A%2F%2Fwww.imf.org%2Fexternal%2Fnp%2Fmae%2Foshore%2F2000%2Feng%2Fback.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-imf-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-imf_23-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAhmed_Zoromé2007" class="citation journal cs1">Ahmed Zoromé (1 April 2007). <a rel="nofollow" class="external text" href="http://www.imf.org/external/pubs/ft/wp/2007/wp0787.pdf">"Concept of Offshore Financial Centers: In Search of an Operational Definition"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160407224029/http://www.imf.org/external/pubs/ft/wp/2007/wp0787.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 7 April 2016<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>IMF Working Paper 07/87</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Concept+of+Offshore+Financial+Centers%3A+In+Search+of+an+Operational+Definition&rft.date=2007-04-01&rft.au=Ahmed+Zorom%C3%A9&rft_id=http%3A%2F%2Fwww.imf.org%2Fexternal%2Fpubs%2Fft%2Fwp%2F2007%2Fwp0787.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span> <span class="cs1-visible-error citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_journal" title="Template:Cite journal">cite journal</a>}}</code>: </span><span class="cs1-visible-error citation-comment">Cite journal requires <code class="cs1-code">|journal=</code> (<a href="/wiki/Help:CS1_errors#missing_periodical" title="Help:CS1 errors">help</a>)</span></span> </li> <li id="cite_note-imfx-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-imfx_24-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDamgaardElkjaerJohannesen2018" class="citation journal cs1">Damgaard, Jannick; Elkjaer, Thomas; Johannesen, Niels (June 2018). <a rel="nofollow" class="external text" href="http://www.imf.org/external/pubs/ft/fandd/2018/06/inside-the-world-of-global-tax-havens-and-offshore-banking/damgaard.htm">"Piercing the Veil of Tax Havens"</a>. <i>International Monetary Fund: Finance & Development Quarterly</i>. <b>55</b> (2). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180612142524/http://www.imf.org/external/pubs/ft/fandd/2018/06/inside-the-world-of-global-tax-havens-and-offshore-banking/damgaard.htm">Archived</a> from the original on 12 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>The eight major pass-through economies—the Netherlands, Luxembourg, Hong Kong SAR, the British Virgin Islands, Bermuda, the Cayman Islands, Ireland, and Singapore—host more than 85 percent of the world's investment in special purpose entities, which are often set up for tax reasons.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=International+Monetary+Fund%3A+Finance+%26+Development+Quarterly&rft.atitle=Piercing+the+Veil+of+Tax+Havens&rft.volume=55&rft.issue=2&rft.date=2018-06&rft.aulast=Damgaard&rft.aufirst=Jannick&rft.au=Elkjaer%2C+Thomas&rft.au=Johannesen%2C+Niels&rft_id=http%3A%2F%2Fwww.imf.org%2Fexternal%2Fpubs%2Fft%2Ffandd%2F2018%2F06%2Finside-the-world-of-global-tax-havens-and-offshore-banking%2Fdamgaard.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-missing_profits-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-missing_profits_25-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGabriel_Zucman2013" class="citation journal cs1"><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a> (August 2013). <a rel="nofollow" class="external text" href="https://eml.berkeley.edu/~saez/course/zucman11.pdf">"The Missing Wealth of Nations: Are Europe and The U.S. Net Debtors or Net Creditors?"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/The_Quarterly_Journal_of_Economics" title="The Quarterly Journal of Economics">The Quarterly Journal of Economics</a></i>. <b>128</b> (3): 1321–1364. <a href="/wiki/CiteSeerX_(identifier)" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.371.3828">10.1.1.371.3828</a></span>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fqje%2Fqjt012">10.1093/qje/qjt012</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170809133829/http://eml.berkeley.edu/~saez/course/zucman11.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 9 August 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q><span class="cs1-kern-left"></span>'Tax havens are low-tax jurisdictions that offer businesses and individuals opportunities for tax avoidance' (Hines, 2008). In this paper, I will use the expression 'tax haven' and 'offshore financial center' interchangeably (the list of tax havens considered by Dharmapala and Hines (2009) is identical to the list of offshore financial centers considered by the Financial Stability Forum (IMF, 2000), barring minor exceptions)</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Quarterly+Journal+of+Economics&rft.atitle=The+Missing+Wealth+of+Nations%3A+Are+Europe+and+The+U.S.+Net+Debtors+or+Net+Creditors%3F&rft.volume=128&rft.issue=3&rft.pages=1321-1364&rft.date=2013-08&rft_id=https%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.371.3828%23id-name%3DCiteSeerX&rft_id=info%3Adoi%2F10.1093%2Fqje%2Fqjt012&rft.au=Gabriel+Zucman&rft_id=https%3A%2F%2Feml.berkeley.edu%2F~saez%2Fcourse%2Fzucman11.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-ITEP-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-ITEP_26-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRichard_PhillipsMatt_GardnerAlexandria_RobinsMichelle_Surka2017" class="citation web cs1">Richard Phillips; Matt Gardner; Alexandria Robins; Michelle Surka (2017). <a rel="nofollow" class="external text" href="https://itep.org/wp-content/uploads/offshoreshellgames2017.pdf">"Offshore Shell Games 2017"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/Institute_on_Taxation_and_Economic_Policy" title="Institute on Taxation and Economic Policy">Institute on Taxation and Economic Policy</a>. <q>Amount of Tax Haven Connections (Figure 1, Page 11), Amount of Tax Haven Profits (Figure 4, Page 16)</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Offshore+Shell+Games+2017&rft.pub=Institute+on+Taxation+and+Economic+Policy&rft.date=2017&rft.au=Richard+Phillips&rft.au=Matt+Gardner&rft.au=Alexandria+Robins&rft.au=Michelle+Surka&rft_id=https%3A%2F%2Fitep.org%2Fwp-content%2Fuploads%2Foffshoreshellgames2017.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDaniel_Boffey2017" class="citation news cs1">Daniel Boffey (5 December 2017). <a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2017/dec/05/eu-blacklist-names-17-tax-havens-and-puts-caymans-and-jersey-on-notice">"EU blacklist names 17 tax havens and puts Caymans and Jersey on notice"</a>. <i>The Guardian</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190407180336/https://www.theguardian.com/business/2017/dec/05/eu-blacklist-names-17-tax-havens-and-puts-caymans-and-jersey-on-notice">Archived</a> from the original on 7 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=EU+blacklist+names+17+tax+havens+and+puts+Caymans+and+Jersey+on+notice&rft.date=2017-12-05&rft.au=Daniel+Boffey&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2017%2Fdec%2F05%2Feu-blacklist-names-17-tax-havens-and-puts-caymans-and-jersey-on-notice&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJuliette_Garside2017" class="citation news cs1">Juliette Garside (2 December 2017). <a rel="nofollow" class="external text" href="https://www.theguardian.com/world/2017/dec/02/paradise-to-blacklist-eu-tax-havens">"From paradise to blacklist: EU's net starts to close on tax havens"</a>. <i>The Guardian</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190501195529/https://www.theguardian.com/world/2017/dec/02/paradise-to-blacklist-eu-tax-havens">Archived</a> from the original on 1 May 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=From+paradise+to+blacklist%3A+EU%27s+net+starts+to+close+on+tax+havens&rft.date=2017-12-02&rft.au=Juliette+Garside&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fworld%2F2017%2Fdec%2F02%2Fparadise-to-blacklist-eu-tax-havens&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKen_Silva2017" class="citation web cs1">Ken Silva (1 August 2017). <a rel="nofollow" class="external text" href="https://www.caymancompass.com/2017/08/01/new-study-offers-more-nuanced-look-at-offshore-finance/">"New study offers more nuanced look at offshore finance"</a>. <a href="/wiki/List_of_newspapers_in_the_Cayman_Islands" title="List of newspapers in the Cayman Islands">Cayman Compass</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180402230212/https://www.caymancompass.com/2017/08/01/new-study-offers-more-nuanced-look-at-offshore-finance/">Archived</a> from the original on 2 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>. <q>When offshore financial centers receive criticism for being "tax havens", they often counter by pointing to larger countries in Europe and elsewhere that practice many of the same policies decried by the international community. A new study compiled by researchers at the University of Amsterdam buttresses that counter-argument, naming the U.K., Ireland, the Netherlands and other developed countries as places that facilitate tax avoidance</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=New+study+offers+more+nuanced+look+at+offshore+finance&rft.pub=Cayman+Compass&rft.date=2017-08-01&rft.au=Ken+Silva&rft_id=https%3A%2F%2Fwww.caymancompass.com%2F2017%2F08%2F01%2Fnew-study-offers-more-nuanced-look-at-offshore-finance%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSuzanne_Kelly2017" class="citation news cs1">Suzanne Kelly (2 October 2017). <a rel="nofollow" class="external text" href="https://www.independent.ie/business/irish/there-is-a-definition-of-a-tax-haven-and-ireland-doesnt-make-that-grade-35095264.html">"There is a definition of a tax haven - and Ireland doesn't make that grade"</a>. <i><a href="/wiki/Irish_Independent" title="Irish Independent">Irish Independent</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180326202838/https://www.independent.ie/business/irish/there-is-a-definition-of-a-tax-haven-and-ireland-doesnt-make-that-grade-35095264.html">Archived</a> from the original on 26 March 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Irish+Independent&rft.atitle=There+is+a+definition+of+a+tax+haven+-+and+Ireland+doesn%27t+make+that+grade&rft.date=2017-10-02&rft.au=Suzanne+Kelly&rft_id=https%3A%2F%2Fwww.independent.ie%2Fbusiness%2Firish%2Fthere-is-a-definition-of-a-tax-haven-and-ireland-doesnt-make-that-grade-35095264.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHugh_O'Connell2013" class="citation news cs1">Hugh O'Connell (23 July 2013). <a rel="nofollow" class="external text" href="http://www.thejournal.ie/oced-ireland-tax-haven-1005122-Jul2013/">"OECD tax chief: 'Ireland is not a tax haven'<span class="cs1-kern-right"></span>"</a>. <i><a href="/wiki/TheJournal.ie" title="TheJournal.ie">TheJournal.ie</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180427201152/http://www.thejournal.ie/oced-ireland-tax-haven-1005122-Jul2013/">Archived</a> from the original on 27 April 2018<span class="reference-accessdate">. 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Retrieved <span class="nowrap">25 April</span> 2019</span>. <q>As the recent research of Gabriel Zucman and the CORPNET research team at the University of Amsterdam shows, Ireland is a "conduit tax haven", acting as a tax-avoiding funnel between nation-states and enabling the transfer of capital without taxation</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Ireland+is+a+tax+haven+%E2%80%93+and+that%27s+becoming+controversial+at+home&rft.date=2019-04-25&rft.au=Aidan+Regan&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fpolitics%2F2019%2F04%2F25%2Fireland-is-tax-haven-thats-becoming-controversial-home%2F%3Fnoredirect%3Don&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-gipc1-45"><span class="mw-cite-backlink">^ <a href="#cite_ref-gipc1_45-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-gipc1_45-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.theglobalipcenter.com/wp-content/uploads/2018/02/GIPC_IP_Index_2018.pdf">"U.S. Chamber International IP Index, 6th Edition, 2018"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/Global_Intellectual_Property_Center" class="mw-redirect" title="Global Intellectual Property Center">Global Intellectual Property Center</a>. February 2018. p. 6. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20181218015504/http://www.theglobalipcenter.com/wp-content/uploads/2018/02/GIPC_IP_Index_2018.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 18 December 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=U.S.+Chamber+International+IP+Index%2C+6th+Edition%2C+2018&rft.pages=6&rft.pub=Global+Intellectual+Property+Center&rft.date=2018-02&rft_id=https%3A%2F%2Fwww.theglobalipcenter.com%2Fwp-content%2Fuploads%2F2018%2F02%2FGIPC_IP_Index_2018.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.huffingtonpost.com/entry/these-five-countries-are-conduits-for-the-worlds-biggest_us_5975f0aee4b0f1feb89b4500">"These Five Countries Are Conduits for the World's Biggest Tax Havens"</a>. <i>HuffPost</i>. 24 July 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180403095847/https://www.huffingtonpost.com/entry/these-five-countries-are-conduits-for-the-worlds-biggest_us_5975f0aee4b0f1feb89b4500">Archived</a> from the original on 3 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=HuffPost&rft.atitle=These+Five+Countries+Are+Conduits+for+the+World%27s+Biggest+Tax+Havens&rft.date=2017-07-24&rft_id=https%3A%2F%2Fwww.huffingtonpost.com%2Fentry%2Fthese-five-countries-are-conduits-for-the-worlds-biggest_us_5975f0aee4b0f1feb89b4500&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-ft1-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-ft1_47-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEditorial2017" class="citation news cs1">Editorial (10 November 2017). <a rel="nofollow" class="external text" href="https://www.ft.com/content/b83e697a-c625-11e7-b2bb-322b2cb39656">"Stranger than paradise: the truth about tax"</a>. <i><a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180616180420/https://www.ft.com/content/b83e697a-c625-11e7-b2bb-322b2cb39656">Archived</a> from the original on 16 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=Stranger+than+paradise%3A+the+truth+about+tax&rft.date=2017-11-10&rft.au=Editorial&rft_id=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fb83e697a-c625-11e7-b2bb-322b2cb39656&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFUnited_States_Chamber_of_Commerce2018" class="citation web cs1"><a href="/wiki/United_States_Chamber_of_Commerce" title="United States Chamber of Commerce">United States Chamber of Commerce</a> (February 2018). <a rel="nofollow" class="external text" href="http://www.theglobalipcenter.com/wp-content/uploads/2018/02/GIPC_IP_Index_2018.pdf">"GIPC IP Index 2018"</a> <span class="cs1-format">(PDF)</span>. p. 6. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180521021413/http://www.theglobalipcenter.com/wp-content/uploads/2018/02/GIPC_IP_Index_2018.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 21 May 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">28 September</span> 2018</span>. <q>Figure I: U.S. Chamber International IP Index 2018, Overall Scores</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=GIPC+IP+Index+2018&rft.pages=6&rft.date=2018-02&rft.au=United+States+Chamber+of+Commerce&rft_id=http%3A%2F%2Fwww.theglobalipcenter.com%2Fwp-content%2Fuploads%2F2018%2F02%2FGIPC_IP_Index_2018.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-raw-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-raw_49-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bnrbeurs.nl/2017/02/22/the-corporate-tax-avoidance-toolbox/">"The Corporate Tax Avoidance Toolbox"</a>. B&R Beurs. 2018. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180616180418/https://www.bnrbeurs.nl/2017/02/22/the-corporate-tax-avoidance-toolbox/">Archived</a> from the original on 16 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Corporate+Tax+Avoidance+Toolbox&rft.pub=B%26R+Beurs&rft.date=2018&rft_id=https%3A%2F%2Fwww.bnrbeurs.nl%2F2017%2F02%2F22%2Fthe-corporate-tax-avoidance-toolbox%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-ucla-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-ucla_50-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAndrew_Blair-Stanek2015" class="citation journal cs1">Andrew Blair-Stanek (2015). <a rel="nofollow" class="external text" href="https://www.uclalawreview.org/pdf/62-1-1.pdf">"Intellectual Property Law Solutions to Tax Avoidance"</a> <span class="cs1-format">(PDF)</span>. <i>UCLA Law Review</i>. <b>62</b> (2): 4. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150316232500/http://www.uclalawreview.org/pdf/62-1-1.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 16 March 2015<span class="reference-accessdate">. Retrieved <span class="nowrap">28 September</span> 2018</span>. <q>Intellectual property (IP) has become the leading tax avoidance vehicle in the world today.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=UCLA+Law+Review&rft.atitle=Intellectual+Property+Law+Solutions+to+Tax+Avoidance&rft.volume=62&rft.issue=2&rft.pages=4&rft.date=2015&rft.au=Andrew+Blair-Stanek&rft_id=https%3A%2F%2Fwww.uclalawreview.org%2Fpdf%2F62-1-1.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-fordam-51"><span class="mw-cite-backlink"><b><a href="#cite_ref-fordam_51-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFTed_Mulvany2016" class="citation web cs1">Ted Mulvany (30 August 2016). <a rel="nofollow" class="external text" href="http://www.fordhamiplj.org/2016/08/30/ip-tax-avoidance-ireland/">"Intellectual Property and Tax Avoidance in Ireland"</a>. <a href="/wiki/Fordham_Intellectual_Property,_Media_%26_Entertainment_Law_Journal" title="Fordham Intellectual Property, Media & Entertainment Law Journal">Fordham Intellectual Property, Media & Entertainment Law Journal</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190502112434/http://www.fordhamiplj.org/2016/08/30/ip-tax-avoidance-ireland/">Archived</a> from the original on 2 May 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Intellectual+Property+and+Tax+Avoidance+in+Ireland&rft.pub=Fordham+Intellectual+Property%2C+Media+%26+Entertainment+Law+Journal&rft.date=2016-08-30&rft.au=Ted+Mulvany&rft_id=http%3A%2F%2Fwww.fordhamiplj.org%2F2016%2F08%2F30%2Fip-tax-avoidance-ireland%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-apple-52"><span class="mw-cite-backlink"><b><a href="#cite_ref-apple_52-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJesse_DruckerSimon_Bowers2017" class="citation news cs1">Jesse Drucker; Simon Bowers (6 November 2017). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2017/11/06/world/apple-taxes-jersey.html">"After a Tax Crackdown, Apple Found a New Shelter for Its Profits"</a>. <i><a href="/wiki/The_New_York_Times" title="The New York Times">The New York Times</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20171106192019/https://www.nytimes.com/2017/11/06/world/apple-taxes-jersey.html">Archived</a> from the original on 6 November 2017<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=After+a+Tax+Crackdown%2C+Apple+Found+a+New+Shelter+for+Its+Profits&rft.date=2017-11-06&rft.au=Jesse+Drucker&rft.au=Simon+Bowers&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2017%2F11%2F06%2Fworld%2Fapple-taxes-jersey.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-53"><span class="mw-cite-backlink"><b><a href="#cite_ref-53">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNicholas_Shaxson2011" class="citation news cs1"><a href="/wiki/Nicholas_Shaxson" title="Nicholas Shaxson">Nicholas Shaxson</a> (9 January 2011). <a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2011/jan/09/explainer-what-is-tax-haven">"Explainer: what is a tax haven? The most important feature of a secrecy jurisdiction is that local politics is captured by financial services interests"</a>. <i>The Guardian</i><span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>This political capture produces one of the great offshore paradoxes: these zones of ultra-freedom are often highly repressive places, wary of scrutiny and intolerant of criticism.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=Explainer%3A+what+is+a+tax+haven%3F+The+most+important+feature+of+a+secrecy+jurisdiction+is+that+local+politics+is+captured+by+financial+services+interests&rft.date=2011-01-09&rft.au=Nicholas+Shaxson&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2011%2Fjan%2F09%2Fexplainer-what-is-tax-haven&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-jason-54"><span class="mw-cite-backlink"><b><a href="#cite_ref-jason_54-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJason_Sharman2006" class="citation book cs1">Jason Sharman (2006). "The Struggle for Global Tax Regulation". <i>Havens in a Storm: The Struggle for Global Tax Regulation</i>. <a href="/wiki/Cornell_University_Press" title="Cornell University Press">Cornell University Press</a>. p. 224. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780801445040" title="Special:BookSources/9780801445040"><bdi>9780801445040</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/10.7591/j.ctt7z6jm">10.7591/j.ctt7z6jm</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Struggle+for+Global+Tax+Regulation&rft.btitle=Havens+in+a+Storm%3A+The+Struggle+for+Global+Tax+Regulation&rft.pages=224&rft.pub=Cornell+University+Press&rft.date=2006&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F10.7591%2Fj.ctt7z6jm%23id-name%3DJSTOR&rft.isbn=9780801445040&rft.au=Jason+Sharman&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRonen_PalanRichard_MurphyChristian_Chavagneux2009" class="citation book cs1"><a href="/wiki/Ronen_Palan" title="Ronen Palan">Ronen Palan</a>; <a href="/wiki/Richard_Murphy_(tax_campaigner)" title="Richard Murphy (tax campaigner)">Richard Murphy</a>; Christian Chavagneux (2009). <i>Tax Havens: How Globalization Really Works</i>. <a href="/wiki/Cornell_University_Press" title="Cornell University Press">Cornell University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8014-7612-9" title="Special:BookSources/978-0-8014-7612-9"><bdi>978-0-8014-7612-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Tax+Havens%3A+How+Globalization+Really+Works&rft.pub=Cornell+University+Press&rft.date=2009&rft.isbn=978-0-8014-7612-9&rft.au=Ronen+Palan&rft.au=Richard+Murphy&rft.au=Christian+Chavagneux&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-56"><span class="mw-cite-backlink"><b><a href="#cite_ref-56">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNicholas_Shaxson2011" class="citation book cs1"><a href="/wiki/Nicholas_Shaxson" title="Nicholas Shaxson">Nicholas Shaxson</a> (2011). <a href="/wiki/Treasure_Islands:_Tax_Havens_and_the_Men_Who_Stole_the_World" class="mw-redirect" title="Treasure Islands: Tax Havens and the Men Who Stole the World"><i>Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens</i></a>. Palgrave Macmillan. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-230-10501-0" title="Special:BookSources/978-0-230-10501-0"><bdi>978-0-230-10501-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Treasure+Islands%3A+Uncovering+the+Damage+of+Offshore+Banking+and+Tax+Havens&rft.pub=Palgrave+Macmillan&rft.date=2011&rft.isbn=978-0-230-10501-0&rft.au=Nicholas+Shaxson&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.uva.nl/en/content/news/press-releases/2017/07/highly-developed-countries-canalise-almost-50-of-equity-flows-to-tax-havens.html">"Highly developed countries canalise almost 50% of equity flows to tax havens"</a>. CORPNET. 24 July 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180403051552/http://www.uva.nl/en/content/news/press-releases/2017/07/highly-developed-countries-canalise-almost-50-of-equity-flows-to-tax-havens.html">Archived</a> from the original on 3 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Highly+developed+countries+canalise+almost+50%25+of+equity+flows+to+tax+havens&rft.pub=CORPNET&rft.date=2017-07-24&rft_id=http%3A%2F%2Fwww.uva.nl%2Fen%2Fcontent%2Fnews%2Fpress-releases%2F2017%2F07%2Fhighly-developed-countries-canalise-almost-50-of-equity-flows-to-tax-havens.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-58"><span class="mw-cite-backlink"><b><a href="#cite_ref-58">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPaul_Hodgson2017" class="citation magazine cs1">Paul Hodgson (30 July 2017). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180403001737/https://www.complianceweek.com/blogs/global-glimpses/netherlands-not-bermuda-is-the-tax-evasion-capital-of-the-world">"Netherlands, not Bermuda, is the tax evasion capital of the world"</a>. <i><a href="/wiki/Compliance_Week" title="Compliance Week">Compliance Week</a></i>. Archived from <a rel="nofollow" class="external text" href="https://www.complianceweek.com/blogs/global-glimpses/netherlands-not-bermuda-is-the-tax-evasion-capital-of-the-world">the original</a> on 3 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Compliance+Week&rft.atitle=Netherlands%2C+not+Bermuda%2C+is+the+tax+evasion+capital+of+the+world&rft.date=2017-07-30&rft.au=Paul+Hodgson&rft_id=https%3A%2F%2Fwww.complianceweek.com%2Fblogs%2Fglobal-glimpses%2Fnetherlands-not-bermuda-is-the-tax-evasion-capital-of-the-world&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-59"><span class="mw-cite-backlink"><b><a href="#cite_ref-59">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.dutchnews.nl/news/archives/2017/07/the-netherlands-is-worlds-biggest-conduit-to-offshore-tax-havens-research/">"The Netherlands is world's biggest conduit to offshore tax havens: research"</a>. Dutch News NL. 24 July 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180214160801/http://www.dutchnews.nl/news/archives/2017/07/the-netherlands-is-worlds-biggest-conduit-to-offshore-tax-havens-research">Archived</a> from the original on 14 February 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Netherlands+is+world%27s+biggest+conduit+to+offshore+tax+havens%3A+research&rft.pub=Dutch+News+NL&rft.date=2017-07-24&rft_id=http%3A%2F%2Fwww.dutchnews.nl%2Fnews%2Farchives%2F2017%2F07%2Fthe-netherlands-is-worlds-biggest-conduit-to-offshore-tax-havens-research%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-60"><span class="mw-cite-backlink"><b><a href="#cite_ref-60">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPat_Sweet2017" class="citation web cs1">Pat Sweet (27 July 2017). <a rel="nofollow" class="external text" href="https://www.accountancydaily.co/uk-second-largest-conduit-tax-havens">"UK second largest conduit for tax havens"</a>. Accountancy Weekly. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180403051452/https://www.accountancydaily.co/uk-second-largest-conduit-tax-havens">Archived</a> from the original on 3 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=UK+second+largest+conduit+for+tax+havens&rft.pub=Accountancy+Weekly&rft.date=2017-07-27&rft.au=Pat+Sweet&rft_id=https%3A%2F%2Fwww.accountancydaily.co%2Fuk-second-largest-conduit-tax-havens&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-61"><span class="mw-cite-backlink"><b><a href="#cite_ref-61">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAdam_Whitnall2017" class="citation news cs1">Adam Whitnall (15 January 2017). <a rel="nofollow" class="external text" href="https://www.independent.co.uk/news/uk/politics/brexit-eu-chancellor-philip-hammond-welt-am-sonntag-uk-tax-haven-europe-a7527961.html">"UK could become 'tax haven' of Europe if it is shut out of single market after Brexit, Chancellor suggests"</a>. <i><a href="/wiki/The_Independent" title="The Independent">The Independent</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180402225714/https://www.independent.co.uk/news/uk/politics/brexit-eu-chancellor-philip-hammond-welt-am-sonntag-uk-tax-haven-europe-a7527961.html">Archived</a> from the original on 2 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Independent&rft.atitle=UK+could+become+%27tax+haven%27+of+Europe+if+it+is+shut+out+of+single+market+after+Brexit%2C+Chancellor+suggests&rft.date=2017-01-15&rft.au=Adam+Whitnall&rft_id=https%3A%2F%2Fwww.independent.co.uk%2Fnews%2Fuk%2Fpolitics%2Fbrexit-eu-chancellor-philip-hammond-welt-am-sonntag-uk-tax-haven-europe-a7527961.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-62">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.imf.org/en/Publications/CR/Issues/2018/06/28/Ireland-Selected-Issues-46027">"Ireland:Selected Issues"</a>. <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a>. June 2018. p. 20. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180706132549/https://www.imf.org/en/Publications/CR/Issues/2018/06/28/Ireland-Selected-Issues-46027">Archived</a> from the original on 6 July 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">6 July</span> 2018</span>. <q>Figure 3. Foreign Direct Investment - Over half of Irish outbound FDI is routed to Luxembourg</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Ireland%3ASelected+Issues&rft.pages=20&rft.pub=International+Monetary+Fund&rft.date=2018-06&rft_id=https%3A%2F%2Fwww.imf.org%2Fen%2FPublications%2FCR%2FIssues%2F2018%2F06%2F28%2FIreland-Selected-Issues-46027&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-63"><span class="mw-cite-backlink"><b><a href="#cite_ref-63">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.financialsecrecyindex.com/PDF/Ireland.pdf">"Financial Secrecy Index 2018:IRELAND"</a> <span class="cs1-format">(PDF)</span>. <a href="/wiki/Tax_Justice_Network" title="Tax Justice Network">Tax Justice Network</a>. February 2018. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180426144323/http://www.financialsecrecyindex.com/PDF/Ireland.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 26 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">26 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Financial+Secrecy+Index+2018%3AIRELAND&rft.pub=Tax+Justice+Network&rft.date=2018-02&rft_id=http%3A%2F%2Fwww.financialsecrecyindex.com%2FPDF%2FIreland.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-64"><span class="mw-cite-backlink"><b><a href="#cite_ref-64">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-real-story-behind-us-companies-off-shore-cash-reserves">"The real story behind US companies' offshore cash reserves"</a>. <a href="/wiki/McKinsey_%26_Company" title="McKinsey & Company">McKinsey & Company</a>. June 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180813180122/https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-real-story-behind-us-companies-off-shore-cash-reserves">Archived</a> from the original on 13 August 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+real+story+behind+US+companies%27+offshore+cash+reserves&rft.pub=McKinsey+%26+Company&rft.date=2017-06&rft_id=https%3A%2F%2Fwww.mckinsey.com%2Fbusiness-functions%2Fstrategy-and-corporate-finance%2Four-insights%2Fthe-real-story-behind-us-companies-off-shore-cash-reserves&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-65"><span class="mw-cite-backlink"><b><a href="#cite_ref-65">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJill_Treanor2016" class="citation web cs1">Jill Treanor (20 May 2016). <a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2016/may/20/us-corporate-giants-hoarding-over-a-trillion-dollars-apple-microsoft-google">"US corporate giants hoarding more than a trillion dollars"</a>. <i>The Guardian</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180325232158/https://www.theguardian.com/business/2016/may/20/us-corporate-giants-hoarding-over-a-trillion-dollars-apple-microsoft-google">Archived</a> from the original on 25 March 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>. <q>Moody's report says 72% of the money held by Apple, Google and other American companies is being parked offshore for tax reasons</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Guardian&rft.atitle=US+corporate+giants+hoarding+more+than+a+trillion+dollars&rft.date=2016-05-20&rft.au=Jill+Treanor&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2016%2Fmay%2F20%2Fus-corporate-giants-hoarding-over-a-trillion-dollars-apple-microsoft-google&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-66"><span class="mw-cite-backlink"><b><a href="#cite_ref-66">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJan_Fichtner2017" class="citation web cs1">Jan Fichtner (November 2017). <a rel="nofollow" class="external text" href="http://blogs.lse.ac.uk/latamcaribbean/2017/11/02/the-cayman-conundrum-why-is-one-tiny-archipelago-the-largest-financial-centre-in-latin-america-and-the-caribbean/">"The Cayman conundrum: why is one tiny archipelago the largest financial centre in Latin America and the Caribbean?"</a>. <a href="/wiki/London_School_of_Economics" title="London School of Economics">London School of Economics</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180825115219/http://blogs.lse.ac.uk/latamcaribbean/2017/11/02/the-cayman-conundrum-why-is-one-tiny-archipelago-the-largest-financial-centre-in-latin-america-and-the-caribbean/">Archived</a> from the original on 25 August 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>In a recent research paper, the CORPNET project analysed how millions of multinational corporations structure their global ownership chains. We found that Cayman acts as a 'sink' offshore financial centre that attracts and 'retains' foreign capital and/or where data trails often end. Large multinational agriculture commodity companies such as Bunge or Cargill that are active in the Amazon basin (e.g. in soy production) use the Cayman Islands in their global corporate ownership chains, thus most likely undermining the sustainability of a key global environmental commons</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Cayman+conundrum%3A+why+is+one+tiny+archipelago+the+largest+financial+centre+in+Latin+America+and+the+Caribbean%3F&rft.pub=London+School+of+Economics&rft.date=2017-11&rft.au=Jan+Fichtner&rft_id=http%3A%2F%2Fblogs.lse.ac.uk%2Flatamcaribbean%2F2017%2F11%2F02%2Fthe-cayman-conundrum-why-is-one-tiny-archipelago-the-largest-financial-centre-in-latin-america-and-the-caribbean%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-67"><span class="mw-cite-backlink"><b><a href="#cite_ref-67">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.maltatoday.com.mt/news/national/79320/scientists_find_name_for_maltas_tax_haven_rep_#.WsIY14jwZPY">"Scientists have found a way of showing how Malta is a global top ten tax haven"</a>. <i><a href="/wiki/Malta_Today" title="Malta Today">Malta Today</a></i>. 31 July 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180403051427/https://www.maltatoday.com.mt/news/national/79320/scientists_find_name_for_maltas_tax_haven_rep_#.WsIY14jwZPY">Archived</a> from the original on 3 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Malta+Today&rft.atitle=Scientists+have+found+a+way+of+showing+how+Malta+is+a+global+top+ten+tax+haven&rft.date=2017-07-31&rft_id=https%3A%2F%2Fwww.maltatoday.com.mt%2Fnews%2Fnational%2F79320%2Fscientists_find_name_for_maltas_tax_haven_rep_%23.WsIY14jwZPY&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-68"><span class="mw-cite-backlink"><b><a href="#cite_ref-68">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.timesofmalta.com/articles/view/20170729/local/malta-is-main-eu-tax-haven-study.654369">"Malta is a Tax Haven, major new study"</a>. <i><a href="/wiki/Times_of_Malta" title="Times of Malta">Times of Malta</a></i>. 29 July 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180716224154/https://www.timesofmalta.com/articles/view/20170729/local/malta-is-main-eu-tax-haven-study.654369">Archived</a> from the original on 16 July 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">14 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Times+of+Malta&rft.atitle=Malta+is+a+Tax+Haven%2C+major+new+study&rft.date=2017-07-29&rft_id=https%3A%2F%2Fwww.timesofmalta.com%2Farticles%2Fview%2F20170729%2Flocal%2Fmalta-is-main-eu-tax-haven-study.654369&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-69"><span class="mw-cite-backlink"><b><a href="#cite_ref-69">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.timesofmalta.com/articles/view/20170520/local/malta-is-a-target-for-italian-mafia-russia-loan-sharks-damning-report.648474">"Malta is a target for Italian mafia, Russia loan sharks, damning probe says"</a>. <i><a href="/wiki/Times_of_Malta" title="Times of Malta">Times of Malta</a></i>. 20 May 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180708191923/https://www.timesofmalta.com/articles/view/20170520/local/malta-is-a-target-for-italian-mafia-russia-loan-sharks-damning-report.648474">Archived</a> from the original on 8 July 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Times+of+Malta&rft.atitle=Malta+is+a+target+for+Italian+mafia%2C+Russia+loan+sharks%2C+damning+probe+says&rft.date=2017-05-20&rft_id=https%3A%2F%2Fwww.timesofmalta.com%2Farticles%2Fview%2F20170520%2Flocal%2Fmalta-is-a-target-for-italian-mafia-russia-loan-sharks-damning-report.648474&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-70"><span class="mw-cite-backlink"><b><a href="#cite_ref-70">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJamie_Doward2013" class="citation news cs1">Jamie Doward (3 November 2013). <a rel="nofollow" class="external text" href="https://www.theguardian.com/business/2013/nov/03/deloittes-tax-savings-investments-in-poor-countries">"Deloitte promotes Mauritius as tax haven to avoid big payouts to poor African nations"</a>. <i>The Guardian</i><span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=Deloitte+promotes+Mauritius+as+tax+haven+to+avoid+big+payouts+to+poor+African+nations&rft.date=2013-11-03&rft.au=Jamie+Doward&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2013%2Fnov%2F03%2Fdeloittes-tax-savings-investments-in-poor-countries&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-for0-71"><span class="mw-cite-backlink"><b><a href="#cite_ref-for0_71-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJesse_Drucker2013" class="citation web cs1">Jesse Drucker (28 October 2013). <a rel="nofollow" class="external text" href="https://www.bloomberg.com/news/articles/2013-10-28/man-making-ireland-tax-avoidance-hub-globally-proves-local-hero">"Man Making Ireland Tax Avoidance Hub Proves Local Hero"</a>. <a href="/wiki/Bloomberg_News" title="Bloomberg News">Bloomberg News</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180612234526/https://www.bloomberg.com/news/articles/2013-10-28/man-making-ireland-tax-avoidance-hub-globally-proves-local-hero">Archived</a> from the original on 12 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Man+Making+Ireland+Tax+Avoidance+Hub+Proves+Local+Hero&rft.pub=Bloomberg+News&rft.date=2013-10-28&rft.au=Jesse+Drucker&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2013-10-28%2Fman-making-ireland-tax-avoidance-hub-globally-proves-local-hero&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-for1-72"><span class="mw-cite-backlink"><b><a href="#cite_ref-for1_72-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFEditorial2013" class="citation news cs1">Editorial (3 November 2013). <a rel="nofollow" class="external text" href="https://www.independent.ie/business/irish/controversial-tax-strategies-brainchild-of-orourkes-son-29721835.html">"Controversial tax strategies brainchild of O'Rourke's son"</a>. <i><a href="/wiki/Irish_Independent" title="Irish Independent">Irish Independent</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180920120538/https://www.independent.ie/business/irish/controversial-tax-strategies-brainchild-of-orourkes-son-29721835.html">Archived</a> from the original on 20 September 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Irish+Independent&rft.atitle=Controversial+tax+strategies+brainchild+of+O%27Rourke%27s+son&rft.date=2013-11-03&rft.au=Editorial&rft_id=https%3A%2F%2Fwww.independent.ie%2Fbusiness%2Firish%2Fcontroversial-tax-strategies-brainchild-of-orourkes-son-29721835.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-fer-73"><span class="mw-cite-backlink">^ <a href="#cite_ref-fer_73-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-fer_73-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFFiona_Redden2015" class="citation news cs1">Fiona Redden (8 May 2015). <a rel="nofollow" class="external text" href="https://www.irishtimes.com/business/financial-services/scion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Ffinancial-services%2Fscion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820">"Scion of a prominent political dynasty who gave his vote to accountancy"</a>. <i><a href="/wiki/The_Irish_Times" title="The Irish Times">The Irish Times</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180612152414/https://www.irishtimes.com/business/financial-services/scion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Ffinancial-services%2Fscion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820">Archived</a> from the original on 12 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Irish+Times&rft.atitle=Scion+of+a+prominent+political+dynasty+who+gave+his+vote+to+accountancy&rft.date=2015-05-08&rft.au=Fiona+Redden&rft_id=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Ffinancial-services%2Fscion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820%3Fmode%3Dsample%26auth-failed%3D1%26pw-origin%3Dhttps%253A%252F%252Fwww.irishtimes.com%252Fbusiness%252Ffinancial-services%252Fscion-of-a-prominent-political-dynasty-who-gave-his-vote-to-accountancy-1.2203820&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-74"><span class="mw-cite-backlink"><b><a href="#cite_ref-74">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFColm_Kelpie2014" class="citation news cs1">Colm Kelpie (23 October 2014). <a rel="nofollow" class="external text" href="https://www.independent.ie/business/irish/oecd-gives-cautious-welcome-to-knowledge-box-tax-scheme-30685281.html">"OECD gives cautious welcome to Irish Knowledge Box tax scheme"</a>. <i><a href="/wiki/Irish_Independent" title="Irish Independent">Irish Independent</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180513224146/https://www.independent.ie/business/irish/oecd-gives-cautious-welcome-to-knowledge-box-tax-scheme-30685281.html">Archived</a> from the original on 13 May 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Irish+Independent&rft.atitle=OECD+gives+cautious+welcome+to+Irish+Knowledge+Box+tax+scheme&rft.date=2014-10-23&rft.au=Colm+Kelpie&rft_id=https%3A%2F%2Fwww.independent.ie%2Fbusiness%2Firish%2Foecd-gives-cautious-welcome-to-knowledge-box-tax-scheme-30685281.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-75"><span class="mw-cite-backlink"><b><a href="#cite_ref-75">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.financialsecrecyindex.com/introduction/fsi-2018-results">"Financial Secrecy Index 2018"</a>. Tax Justice Network. 2018. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180331040220/https://www.financialsecrecyindex.com/introduction/fsi-2018-results">Archived</a> from the original on 31 March 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">2 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Financial+Secrecy+Index+2018&rft.pub=Tax+Justice+Network&rft.date=2018&rft_id=https%3A%2F%2Fwww.financialsecrecyindex.com%2Fintroduction%2Ffsi-2018-results&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-76"><span class="mw-cite-backlink"><b><a href="#cite_ref-76">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.financialsecrecyindex.com/PDF/IsleofMan.pdf">"Report on the Isle of Man"</a> <span class="cs1-format">(PDF)</span>. Tax Justice Network. 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180415191128/http://www.financialsecrecyindex.com/PDF/IsleofMan.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 15 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">15 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Report+on+the+Isle+of+Man&rft.pub=Tax+Justice+Network&rft.date=2017&rft_id=http%3A%2F%2Fwww.financialsecrecyindex.com%2FPDF%2FIsleofMan.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-77"><span class="mw-cite-backlink"><b><a href="#cite_ref-77">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.iomtoday.co.im/article.cfm?id=35167&headline=We%27re%20no%20tax%20haven%20study%20concludes&sectionIs=news&searchyear=2017">"We're no tax haven study concludes"</a>. IOM Today. 1 August 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190427141235/http://www.iomtoday.co.im/article.cfm?id=35167&headline=We%27re%20no%20tax%20haven%20study%20concludes&sectionIs=news&searchyear=2017">Archived</a> from the original on 27 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">15 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=We%27re+no+tax+haven+study+concludes&rft.pub=IOM+Today&rft.date=2017-08-01&rft_id=http%3A%2F%2Fwww.iomtoday.co.im%2Farticle.cfm%3Fid%3D35167%26headline%3DWe%2527re%2520no%2520tax%2520haven%2520study%2520concludes%26sectionIs%3Dnews%26searchyear%3D2017&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-78"><span class="mw-cite-backlink"><b><a href="#cite_ref-78">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://business-reporter.co.uk/2017/11/07/isle-man-closely-mirrors-uk-rules-says-chief-minister/?getcat=2934">"Isle of man 'closely mirrors' UK rules, says Chief Minister"</a>. <i>The Daily Telegraph Business Reporter</i>. 7 November 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180415192910/https://business-reporter.co.uk/2017/11/07/isle-man-closely-mirrors-uk-rules-says-chief-minister/?getcat=2934">Archived</a> from the original on 15 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">15 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Daily+Telegraph+Business+Reporter&rft.atitle=Isle+of+man+%27closely+mirrors%27+UK+rules%2C+says+Chief+Minister&rft.date=2017-11-07&rft_id=https%3A%2F%2Fbusiness-reporter.co.uk%2F2017%2F11%2F07%2Fisle-man-closely-mirrors-uk-rules-says-chief-minister%2F%3Fgetcat%3D2934&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-79"><span class="mw-cite-backlink"><b><a href="#cite_ref-79">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://corpnet.uva.nl/response-to-howard-quayle-chief-minister-of-isle-of-man/">"Response to Howard Quayle, Chief Minister of Isle of Man"</a>. CORPNET. 8 November 2017. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180416012242/https://corpnet.uva.nl/response-to-howard-quayle-chief-minister-of-isle-of-man/">Archived</a> from the original on 16 April 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">15 April</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Response+to+Howard+Quayle%2C+Chief+Minister+of+Isle+of+Man&rft.pub=CORPNET&rft.date=2017-11-08&rft_id=https%3A%2F%2Fcorpnet.uva.nl%2Fresponse-to-howard-quayle-chief-minister-of-isle-of-man%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-80"><span class="mw-cite-backlink"><b><a href="#cite_ref-80">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRichard_Murphy2017" class="citation web cs1"><a href="/wiki/Richard_Murphy_(tax_campaigner)" title="Richard Murphy (tax campaigner)">Richard Murphy</a> (2 August 2017). <a rel="nofollow" class="external text" href="http://www.taxresearch.org.uk/Blog/2017/08/02/the-isle-of-man-is-failing-at-being-a-tax-haven/">"The Isle of Man is failing at being a tax haven"</a>. Tax Research UK. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180617165221/http://www.taxresearch.org.uk/Blog/2017/08/02/the-isle-of-man-is-failing-at-being-a-tax-haven/">Archived</a> from the original on 17 June 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>. <q>You could almost say that the Isle of Man did not feature in this new study [Conduit and Sinks] simply because it's not a very successful tax haven anymore.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Isle+of+Man+is+failing+at+being+a+tax+haven&rft.pub=Tax+Research+UK&rft.date=2017-08-02&rft.au=Richard+Murphy&rft_id=http%3A%2F%2Fwww.taxresearch.org.uk%2FBlog%2F2017%2F08%2F02%2Fthe-isle-of-man-is-failing-at-being-a-tax-haven%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-81"><span class="mw-cite-backlink"><b><a href="#cite_ref-81">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJacques_Leslie2014" class="citation news cs1">Jacques Leslie (15 June 2014). <a rel="nofollow" class="external text" href="https://www.nytimes.com/2014/06/16/opinion/a-piketty-proteges-theory-on-tax-havens.html">"The True Cost of Hidden Money"</a>. <i>The New York Times</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190416121413/https://www.nytimes.com/2014/06/16/opinion/a-piketty-proteges-theory-on-tax-havens.html">Archived</a> from the original on 16 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">27 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+York+Times&rft.atitle=The+True+Cost+of+Hidden+Money&rft.date=2014-06-15&rft.au=Jacques+Leslie&rft_id=https%3A%2F%2Fwww.nytimes.com%2F2014%2F06%2F16%2Fopinion%2Fa-piketty-proteges-theory-on-tax-havens.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-Zucman-82"><span class="mw-cite-backlink"><b><a href="#cite_ref-Zucman_82-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGabriel_Zucman2014" class="citation journal cs1"><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a> (August 2014). <a rel="nofollow" class="external text" href="http://eprints.lse.ac.uk/66119/1/Zucman_Taxing%20across%20Borders.pdf">"Taxing across Borders: Tracking Personal Wealth and Corporate Profits"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Journal_of_Economic_Perspectives" title="Journal of Economic Perspectives">Journal of Economic Perspectives</a></i>. <b>28</b> (4): 121–48. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1257%2Fjep.28.4.121">10.1257/jep.28.4.121</a></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Perspectives&rft.atitle=Taxing+across+Borders%3A+Tracking+Personal+Wealth+and+Corporate+Profits&rft.volume=28&rft.issue=4&rft.pages=121-48&rft.date=2014-08&rft_id=info%3Adoi%2F10.1257%2Fjep.28.4.121&rft.au=Gabriel+Zucman&rft_id=http%3A%2F%2Feprints.lse.ac.uk%2F66119%2F1%2FZucman_Taxing%2520across%2520Borders.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> <li id="cite_note-zucc-83"><span class="mw-cite-backlink"><b><a href="#cite_ref-zucc_83-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGabriel_Zucman2017" class="citation news cs1"><a href="/wiki/Gabriel_Zucman" title="Gabriel Zucman">Gabriel Zucman</a> (8 November 2017). <a rel="nofollow" class="external text" href="https://www.theguardian.com/commentisfree/2017/nov/08/tax-havens-dodging-theft-multinationals-avoiding-tax">"The desperate inequality behind global tax dodging"</a>. <i>The Guardian</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190308142032/https://www.theguardian.com/commentisfree/2017/nov/08/tax-havens-dodging-theft-multinationals-avoiding-tax">Archived</a> from the original on 8 March 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">6 March</span> 2019</span>. <q>The equivalent of 10% of global GDP is held offshore by rich individuals in the form of bank deposits, equities, bonds and mutual fund shares, most of the time in the name of faceless shell corporations, foundations and trusts.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Guardian&rft.atitle=The+desperate+inequality+behind+global+tax+dodging&rft.date=2017-11-08&rft.au=Gabriel+Zucman&rft_id=https%3A%2F%2Fwww.theguardian.com%2Fcommentisfree%2F2017%2Fnov%2F08%2Ftax-havens-dodging-theft-multinationals-avoiding-tax&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConduit+and+sink+OFCs" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conduit_and_sink_OFCs&action=edit&section=11" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a rel="nofollow" class="external text" href="http://corpnet.uva.nl/">University of Amsterdam CORPNET</a></li> <li><a rel="nofollow" class="external text" href="http://www.jfichtner.net/visualizations-of-global-finance/">Jan Fichtner Offshore–Intensity Ratio</a></li> <li><a rel="nofollow" class="external text" href="http://gabriel-zucman.eu/">Gabrial Zucman, University College Berkley</a></li> <li><a rel="nofollow" class="external text" href="https://www.bvdinfo.com/en-gb/our-products/data/international/orbis">Moody's ORBIS Database</a></li> <li><a rel="nofollow" class="external text" href="https://itep.org/">Institute on Taxation and Economic Policy</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style 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class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Climate_change" title="Climate change">Climate change</a> <ul><li><a href="/wiki/Climate_justice" title="Climate justice">Climate justice</a></li></ul></li> <li><a href="/wiki/Globalization_and_disease" title="Globalization and disease">Disease</a> <ul><li><a href="/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a></li></ul></li> <li><a href="/wiki/Global_digital_divide" title="Global digital divide">Digital divide</a></li> <li><a href="/wiki/Global_labor_arbitrage" title="Global labor arbitrage">Labor arbitrage</a></li> <li><a href="/wiki/Multilingualism_and_globalization" title="Multilingualism and globalization">Multilingualism</a></li> <li><a href="/wiki/World_population" title="World population">Population</a></li> <li><a href="/wiki/Tax_haven" title="Tax haven">Tax havens</a> <ul><li><a href="/wiki/Offshore_financial_centre" title="Offshore financial centre">Offshore financial centres</a></li> <li><a href="/wiki/Tax_inversion" title="Tax inversion">Tax inversions</a></li></ul></li> <li><a href="/wiki/Water_security" title="Water security">Water crisis</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><span class="nobold">Other</span></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Human_capital_flight" title="Human capital flight">Brain drain</a> <ul><li><a href="/wiki/Reverse_brain_drain" title="Reverse brain drain">reverse</a></li></ul></li> <li><a href="/wiki/Care_drain" title="Care drain">Care drain</a></li> <li><a href="/wiki/Development_aid" title="Development aid">Development aid</a></li> <li><a href="/wiki/Economic_inequality" title="Economic inequality">Economic inequality</a></li> <li><a href="/wiki/Endangered_language" title="Endangered language">Endangered languages</a></li> <li><a href="/wiki/Fair_trade" title="Fair trade">Fair trade</a></li> <li><a href="/wiki/Forced_displacement" title="Forced displacement">Forced displacement</a></li> <li><a href="/wiki/Human_rights" title="Human rights">Human rights</a></li> <li><a href="/wiki/Illicit_financial_flows" title="Illicit financial flows">Illicit financial flows</a></li> <li><a href="/wiki/Imperialism" title="Imperialism">Imperialism</a> <ul><li><a href="/wiki/Academic_imperialism" title="Academic imperialism">academic</a></li> <li><a href="/wiki/Cultural_imperialism" title="Cultural imperialism">cultural</a></li> <li><a href="/wiki/Linguistic_imperialism" title="Linguistic imperialism">linguistic</a></li> <li><a href="/wiki/Media_imperialism" title="Media imperialism">media</a></li> <li><a href="/wiki/Scientific_imperialism" title="Scientific imperialism">scientific</a></li> <li><a href="/wiki/Social_imperialism" title="Social imperialism">social</a></li></ul></li> <li><a href="/wiki/Invasive_species" title="Invasive species">Invasive species</a></li> <li><a href="/wiki/Investor-state_dispute_settlement" class="mw-redirect" title="Investor-state dispute settlement">Investor-state disputes</a></li> <li><a href="/wiki/McDonaldization" title="McDonaldization">McDonaldization</a></li> <li><a href="/wiki/New_international_division_of_labour" title="New international division of labour">New international division of labour</a></li> <li><a href="/wiki/North%E2%80%93South_divide_in_the_World" class="mw-redirect" title="North–South divide in the World">North–South divide</a></li> <li><a href="/wiki/Offshoring" title="Offshoring">Offshoring</a></li> <li><a href="/wiki/Race_to_the_bottom" title="Race to the bottom">Race to the bottom</a> <ul><li><a href="/wiki/Pollution_haven_hypothesis" title="Pollution haven hypothesis">pollution havens</a></li></ul></li> <li><a href="/wiki/Transnational_organized_crime" title="Transnational organized crime">Transnational crime</a></li> <li><a href="/wiki/Westernization" title="Westernization">Westernization</a></li> <li><a href="/wiki/World_war" title="World war">World war</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Theories</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Capital_accumulation" title="Capital accumulation">Capital accumulation</a></li> <li><a href="/wiki/Dependency_theory" title="Dependency theory">Dependency</a></li> <li><a href="/wiki/Development_theory" title="Development theory">Development</a></li> <li><a href="/wiki/Earth_system_science" title="Earth system science">Earth system</a></li> <li><a href="/wiki/Fiscal_localism" title="Fiscal localism">Fiscal localism</a></li> <li><a href="/wiki/Modernization_theory" title="Modernization theory">Modernization</a> <ul><li><a href="/wiki/Ecological_modernization" title="Ecological modernization">ecological</a></li> <li><a href="/wiki/History_of_modernisation_theory" title="History of modernisation theory">history of</a></li></ul></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Social_change" title="Social change">Social change</a></li> <li><a href="/wiki/World_history_(field)" title="World history (field)">World history</a></li> <li><a href="/wiki/World-systems_theory" title="World-systems theory">World-systems</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Notable<br />scholars</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><span class="nobold">Economics</span></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/David_Autor" title="David Autor">David Autor</a></li> <li><a href="/wiki/Richard_Baldwin_(economist)" title="Richard Baldwin (economist)">Richard Baldwin</a></li> <li><a href="/wiki/Ravi_Batra" title="Ravi Batra">Ravi Batra</a></li> <li><a href="/wiki/Jagdish_Bhagwati" title="Jagdish Bhagwati">Jagdish Bhagwati</a></li> <li><a href="/wiki/Robert_Brenner" title="Robert Brenner">Robert Brenner</a></li> <li><a href="/wiki/Jayati_Ghosh" title="Jayati Ghosh">Jayati Ghosh</a></li> <li><a href="/wiki/Michael_Hudson_(economist)" title="Michael Hudson (economist)">Michael Hudson</a></li> <li><a href="/wiki/Branko_Milanovi%C4%87" title="Branko Milanović">Branko Milanović</a></li> <li><a href="/wiki/Kevin_O%27Rourke" title="Kevin O'Rourke">Kevin O'Rourke</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Thomas Piketty</a></li> <li><a href="/wiki/Dani_Rodrik" title="Dani Rodrik">Dani Rodrik</a></li> <li><a href="/wiki/Jeffrey_Sachs" title="Jeffrey Sachs">Jeffrey Sachs</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Amartya Sen</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><span class="nobold">Political <br />economy</span></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Samir_Amin" title="Samir Amin">Samir Amin</a></li> <li><a href="/wiki/Giovanni_Arrighi" title="Giovanni Arrighi">Giovanni Arrighi</a></li> <li><a href="/wiki/Robert_W._Cox" title="Robert W. Cox">Robert W. Cox</a></li> <li><a href="/wiki/Andre_Gunder_Frank" title="Andre Gunder Frank">Andre Gunder Frank</a></li> <li><a href="/wiki/Stephen_Gill_(political_scientist)" title="Stephen Gill (political scientist)">Stephen Gill</a></li> <li><a href="/wiki/Peter_Gowan" title="Peter Gowan">Peter Gowan</a></li> <li><a href="/wiki/David_Harvey" title="David Harvey">David Harvey</a></li> <li><a href="/wiki/Ronen_Palan" title="Ronen Palan">Ronen Palan</a></li> <li><a href="/wiki/Susan_Strange" title="Susan Strange">Susan Strange</a></li> <li><a href="/wiki/Robert_Wade_(scholar)" title="Robert Wade (scholar)">Robert Wade</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><span class="nobold">Politics / <br /> sociology</span></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Arjun_Appadurai" title="Arjun Appadurai">Arjun Appadurai</a></li> <li><a href="/wiki/Daniele_Archibugi" title="Daniele Archibugi">Daniele Archibugi</a></li> <li><a href="/wiki/Kwame_Anthony_Appiah" title="Kwame Anthony Appiah">K. Anthony Appiah</a></li> <li><a href="/wiki/Ulrich_Beck" title="Ulrich Beck">Ulrich Beck</a></li> <li><a href="/wiki/Walden_Bello" title="Walden Bello">Walden Bello</a></li> <li><a href="/wiki/Jean_Baudrillard" title="Jean Baudrillard">Jean Baudrillard</a></li> <li><a href="/wiki/Zygmunt_Bauman" title="Zygmunt Bauman">Zygmunt Bauman</a></li> <li><a href="/wiki/Manuel_Castells" title="Manuel Castells">Manuel Castells</a></li> <li><a href="/wiki/Christopher_Chase-Dunn" title="Christopher Chase-Dunn">Christopher Chase-Dunn</a></li> <li><a href="/wiki/Alfred_W._Crosby" title="Alfred W. Crosby">Alfred Crosby</a></li> <li><a href="/wiki/Nancy_Fraser" title="Nancy Fraser">Nancy Fraser</a></li> <li><a href="/wiki/Susan_George_(political_scientist)" title="Susan George (political scientist)">Susan George</a></li> <li><a href="/wiki/Anthony_Giddens" title="Anthony Giddens">Anthony Giddens</a></li> <li><a href="/wiki/Michael_Hardt" title="Michael Hardt">Michael Hardt</a></li> <li><a href="/wiki/David_Held" title="David Held">David Held</a></li> <li><a href="/wiki/Paul_Hirst" title="Paul Hirst">Paul Hirst</a></li> <li><a href="/wiki/L._H._M._Ling" title="L. H. M. Ling">L. H. M. Ling</a></li> <li><a href="/wiki/Antonio_Negri" title="Antonio Negri">Antonio Negri</a></li> <li><a href="/wiki/George_Ritzer" title="George Ritzer">George Ritzer</a></li> <li><a href="/wiki/Saskia_Sassen" title="Saskia Sassen">Saskia Sassen</a></li> <li><a href="/wiki/John_Urry_(sociologist)" title="John Urry (sociologist)">John Urry</a></li> <li><a href="/wiki/Immanuel_Wallerstein" title="Immanuel Wallerstein">Immanuel Wallerstein</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><span class="nobold">Non–academic</span></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Noam_Chomsky" title="Noam Chomsky">Noam Chomsky</a></li> <li><a href="/wiki/Thomas_Friedman" title="Thomas Friedman">Thomas Friedman</a></li> <li><a href="/wiki/Naomi_Klein" title="Naomi Klein">Naomi Klein</a></li> <li><a href="/wiki/John_Ralston_Saul" title="John Ralston Saul">John R. 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