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TAX AVOIDANCE, MOST ACTIVE FACILITATORS: SWISS BANK UBS AND CREDIT SUIESSE

June 19, 2017

The Guardian, Sunday 18 June 2017 QUOTE: Research shows that globally, the majority of intermediaries are based in Hong Kong, the UK and the United States. A study of the ICIJ Offshore Leaks database, which contains data from the Panama Papers and previous leaks, identified 140 intermediaries linked to offshore entities. Nearly 90% of them have an office, a subsidiary or an affiliate in Europe.
The most active facilitators were the Swiss banks UBS and Credit Suisse, which were linked to 24,500 offshore entities between them, according to the report, which was commissioned by the Green and European Free Alliance groups in the European parliament.
Trident Corporate Services, which has offices in London’s Portland Place and was linked to 8,500 offshore entities, is the third largest and the first in a string of middlemen whose names are largely unknown outside the world of offshore companies. END OF QUOTE

SOURCE:

https://www.google.dk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwjHtY24tMnUAhVnYZoKHRigABUQFgglMAA&url=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2017%2Fjun%2F18%2Feuropean-commission-to-crackdown-on-offshore-tax-avoidance&usg=AFQjCNG4zg8dmPZwIBrNymxuZ9LIZu8qUg

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