Corporate Tax Haven Index - 2019 Results

Click on a jurisdiction's name to see the summary report; and on its CTHI value to access the detailed (technical) report. If you want to sort the table by a different column just click on the header by which you want to sort.	Download: PDF | Excel
Rank Jurisdiction CTHI Value4 CTHI Share5 Haven Score2 Global Scale Weight3 1 British Virgin Islands 2,769 7.29% 100 2.12% 2 Bermuda 2,653 6.98% 100 1.86% 3 Cayman Islands 2,534 6.67% 100 1.62% 4 Netherlands 2,390 6.29% 78 12.76% 5 Switzerland 1,875 4.93% 83 3.41% 6 Luxembourg 1,794 4.72% 72 10.53% 7 Jersey 1,541 4.05% 98 0.42% 8 Singapore 1,489 3.92% 81 2.11% 9 Bahamas 1,377 3.62% 100 0.26% 10 Hong Kong 1,372 3.61% 73 4.37% 11 Ireland 1,363 3.58% 76 3.11% 12 United Arab Emirates 1,244 3.27% 98 0.22% 13 United Kingdom 1,067 2.81% 63 7.30% 14 Mauritius 950 2.50% 80 0.65% 15 Guernsey 890 2.34% 98 0.08% 16 Belgium 822 2.16% 68 1.82% 17 Isle of Man 804 2.11% 100 0.05% 18 Cyprus 698 1.83% 71 0.73% 19 China 658 1.73% 58 3.67% 20 Hungary 560 1.47% 69 0.49% 21 Curacao 552 1.45% 72 0.32% 22 France 525 1.38% 56 2.81% 23 Malta 519 1.36% 74 0.22% 24 Germany 460 1.21% 52 3.32% 25 USA 407 1.07% 43 12.88% 26 Panama 405 1.06% 72 0.13% 27 Spain 403 1.06% 55 1.53% 28 Gibraltar 398 1.04% 66 0.28% 29 Sweden 364 0.96% 56 0.89% 30 Italy 301 0.79% 51 1.27% 31 Czech Republic 269 0.71% 59 0.23% 32 Turks and Caicos Islands 265 0.69% 100 0.00% 33 Austria 257 0.67% 52 0.66% 34 Finland 236 0.62% 55 0.28% 35 Anguilla 232 0.61% 100 0.00% 36 Denmark 226 0.59% 52 0.44% 37 Liechtenstein 224 0.59% 70 0.03% 38 Lebanon 220 0.58% 73 0.01% 39 Estonia 211 0.55% 67 0.03% 40 Monaco 206 0.54% 68 0.03% 41 Latvia 196 0.51% 68 0.02% 42 South Africa 184 0.48% 47 0.54% 43 Romania 177 0.46% 56 0.11% 44 Seychelles 163 0.42% 68 0.01% 45 Bulgaria 143 0.37% 56 0.05% 46 Macao 144 0.38% 57 0.05% 47 Slovakia 135 0.35% 53 0.07% 48 Croatia 126 0.33% 55 0.04% 49 Portugal 127 0.33% 46 0.23% 50 Taiwan 120 0.31% 47 0.16% 51 Andorra 109 0.28% 69 0.00% 52 Lithuania 106 0.28% 55 0.02% 53 Poland 98 0.25% 40 0.32% 54 Aruba 91 0.24% 64 0.00% 55 Slovenia 80 0.21% 50 0.02% 56 Botswana 74 0.19% 55 0.00% 57 Liberia 71 0.18% 49 0.02% 58 Kenya 60 0.15% 51 0.01% 59 San Marino 56 0.14% 62 0.00% 60 Ghana 56 0.14% 49 0.01% 61 Greece 53 0.14% 39 0.07% 62 Tanzania 40 0.10% 46 0.00% 63 Gambia 9 0.02% 48 0.00% 64 Montserrat 7 0.01% 65 0.00%   Footnote 1: The territories marked in Dark Blue are Overseas Territories (OTs) and Crown Dependencies (CDs) of the United Kingdom where the Britsh Queen is head of state; powers to appoint key government officials rest with the British Crown; laws must be approved in London; and the UK government holds various other powers (see here for more details). Territories marked in light blue are British Commonwealth territories which are not OTs or CDs but whose final court of appeal is the Judicial Committee of the Privy Council in London (see here for more details). To compute a CTHI for the entire group of OTs and CDs (or also including the UK), we first need to calculate the group's joint Haven Score and joint Global Scale Weight. Calculating the joint Global Scale Weight is straightforward - we just sum up each jurisdiction's individual Global Scale Weight to arrive at 13.8% (or 6.5% excluding the UK). To combine the Haven Scores, we see at least three relevant options. All of them result in the UK and its satellite network of corporate tax havens to top the CTHI by a large margin (read more in Section 4.3 in: here). Note that our list excludes many British Commonwealth realms where the Queen remains head of state. Footnote 2: The Haven Score is calculated based on 20 indicators. For full explanation of the methodology and data sources, please read our CTHI-methodology document, here. Footnote 3: The Global Scale Weight represent a jurisdiction's share in global foreign direct investment (inward and outward). For full explanation of the methodology and data sources, please read our CTHI-methodology document, here. Footnote 3: The CTHI Value is calculated by multiplying the cube of the Haven Score with the cube root of the Global Scale Weight. The final result is divided through by one hundred for presentational clarity. Footnote 5: The CTHI Share is calculated by summing up all CTHI Values, and then dividing each countries CTHI Value by the total sum, expressed in percentages.