hypocritical first world rulers


To combat the underworld, money laundering and tax evaders, the rulers of developed countries often declare themselves in favor of greater control over the movement of capital of individuals and corporations. Furthermore, they require underdeveloped nations to adopt strict laws to combat financial crime.

However, if we stick to what the 2022 Financial Secrecy Index (FSI) indicates, prepared and released yesterday by the Tax Justice Network, a British NGO based in London, the majority of those rulers are some hypocritical because eight of the 10 countries and territories that allow the most financial secrecy of individuals and corporations are developed.

On its site fsi.taxjustice.net/es/, the Network explains that “The Financial Secrecy Index is a ranking of the jurisdictions that most favor people hiding their finances from the rule of law. Financial secrecy makes tax abuse viable, dirty money can be financed and human rights are undermined. The index identifies the largest contributors to financial secrecy and highlights the laws that governments can change to reduce their contribution to financial secrecy.”

The ISF 2022 rates the financial and legal systems of 141 countries and territories “based on 20 indicators of opacity.” Countries and territories are ranked by their ISF value, which is a measure of how much each country’s government contributes to financial secrecy.

As I noted above, eight of the 10 entities whose governments contribute the most to financial secrecy are developed. These are the 10 (I write down their ISF value in parentheses): United States (1,951), Switzerland (1,167), Singapore (1,167), Hong Kong (927), Luxembourg (804), Japan (765), Germany (681), United Arab Emirates (648), British Virgin Islands (621) and Guernsey (610).

The following 10 entities are also mostly developed: China (578), Netherlands (556), United Kingdom (547), Cayman Islands (516), Cyprus (510), South Korea (499), Taiwan ( 482), Panama (474), Jersey (459) and Qatar (412).

In the Americas, with an ISF of 139, Mexico appears in 82nd place on the index, below the United States (1,951), the British Virgin Islands (621), the Cayman Islands (516), the Bahamas (385), Canada (349 ), Guatemala (265), Bermuda (245), Anguilla (200), Barbados (177), Puerto Rico (176), Saint Kitts and Nevis (168), Venezuela (168), Uruguay (163), Chile (161) and Aruba (159); and above Brazil (135), Dominican Republic (126), US Virgin Islands (120), Curaçao (117), El Salvador (107), Costa Rica (91), Peru (89), Colombia (88), Bolivia ( 87), Argentina (82), Belize (76), Ecuador (73), Paraguay (72), Turks and Caicos (59), Saint Vincent and the Grenadines (53), Antigua and Barbuda (45), Dominica (44) , Trinidad and Tobago (39), Grenada (36), and Saint Lucia (33).

Regarding the 20 opacity indicators, our country obtained 100 points in six of them, 98 points in one, between 50 and 53 points in five, 42 points in one, between 20 and 25 points in three and zero points. in four. Our government still has a lot to do to combat financial opacity.

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Eduardo Ruiz-Healy

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Opinionist, columnist, lecturer, media trainer, 35 years of experience in the media, microentrepreneur.



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