Distribution of profits in global tax havens for leading EU banks in 2015, by country

This statistic illustrates the distribution of reported profits of the leading twenty European Union (EU) banks in tax havens worldwide as of 2015, by country. A tax haven is understood to be a country, which offers minimal tax liability business conditions to foreign individuals, and at the same time provides a relatively stable financial and political environment. Residence within the tax haven country is not a requirement and therefore, they become controversial places with regards to offshore taxes. Countries such as Andorra, the Bahamas, Hong Kong or Lichtenstein belong to that definition. According to the report, approximately 14 percent of tax on profit or loss for the leading EU banks was registered in tax havens. It can be seen that total profits amounting to more than 10.5 billion euro were reported by the twenty leading EU banks in Hong Kong as of 2015.