New study of top 50 Euro companies: Deutsche Bank's 768 tax haven subsidiaries, Barclays 345, RBS 320
Entitled Aux paradis des impôts perdus, it is an important report - only in French at the moment, unfortunately - whose main findings are:
- On average, the 50 biggest European companies have 117 entities in secrecy jurisdictions, or 29% of their foreign subsidiaries. The total amount of offshore subsidiaries is 5848.
- Only 60% of the companies publish a free and available online full list of entities consolidated in their financial accounts.
- The winners are Deutsche Bank (768), Barclays (345), Royal Bank of Scotland (320), Allianz (290) and Metro (228)
- There are twice as many subsidiaries in the Cayman Islands as in India
- The report provides a world map of favourite tax havens, indicating the main gainers and losers among them in the last 3 years.