Macau gets high ranking for financial opacity

2015/11/5

From：Macau Business

The international pressure group Tax Justice Network says it considers Macau the 11th most financially secretive place among 92 economies it surveys.

The group measures 15 indicators in each place, including banking secrecy, knowledge of beneficial ownership, corporate transparency and efficiency of tax administration.

The Tax Justice Network’s latest report on financial secrecy highlights the absence of company ownership details from official records in Macau, and the city’s failure to require company accounts to be publicly available.

The report also points out that Macau makes no effort to avert tax evasion by offering tax credits.

Copyright@Macau Business