Switzerland and the United States are the biggest promoters of financial secrecy according to an index published today by the Tax Justice Network (TJN).
Switzerland, a well-known tax haven, is still the worst offender as far as financial secrecy is concerned, according to TJN’s analysis.
United States has refused to take part in international efforts to curb financial secrecy. It seeks information on U.S. citizens abroad but does not provide data to foreign countries.
Several U.S. states are considered tax havens including Delaware, which doesn’t tax intangible assets.