Netherlands 15th on financial secrecy list

The Netherlands is in 15th place on a new ranking of 60 ‘financially-secretive locations’ drawn up by research group Tax Justice Network.

‘We like to think that liberalised financial markets are transparent. But when you dig deep into their arrangements, you find transparency is something of a chimera,’ John Christensen, Tax Justice Network director told the Financial Times.
The rankings are made by giving each of 60 onshore and offshore financial centres an ‘opacity score’, which is then weighted according to the jurisdiction’s significance in the world financial system, the FT said.
The list is led by the US state of Delaware and includes the City of London, Belgium, Ireland Luxembourg, Switzerland and Hong Kong in its top 10.

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