On the 14th of November 2024, the updated datasets of the Atlas of the Offshore World were presented in a webinar attended by more than 50 experts on tax research and policy, from more than 20 countries.
The Atlas of the Offshore World is a global data repository that sheds light on how multinational enterprises shift profits, the scope of hidden wealth in offshore destinations, and how capital and labor are taxed around the world. The Atlas is divided in four datasets that provide research-based, public, up-to-date and user-friendly information. Launched in October 2023, the Atlas is a joint initiative of the EU Tax Observatory and Skatteforsk – Centre for Tax Research, funded by the Norwegian government.
Why does the Atlas matter?
Transparent and equitable tax systems are needed to tackle inequality and the current environmental crisis. This challenge is remarkably acute in developing countries where larger domestic resources are needed to finance their national development priorities and to fulfil the Sustainable Development Goals. In this context, the fight against tax avoidance, tax evasion and multiple forms of illicit financial flows have become a top priority in international arenas like United Nations General Assembly, the Group of Twenty (G20), and the Organisation for Economic Co-operation and Development (OECD). However, efforts to reform tax systems and to foster international cooperation have been hindered by a lack of data on fiscal issues and the flow of wealth. While academics had long been analysing offshore wealth and profit shifting, their findings remained largely confined to scholarly circles. The Atlas was conceived as an initiative to bridge this divide, offering up-to-date and transparent data to policymakers, researchers, and advocates to bolster the global fight for fairer tax systems.
The idea for the Atlas stemmed from the recognition that the debate surrounding global tax evasion and avoidance needed a stronger knowledge base. Therefore, researchers at the EU Tax Observatory and Skatteforsk are collaborating to bring existing knowledge to the forefront, providing a platform that offers both country-level and global insights. By doing so, the Atlas ensures that those engaged in tax policy discussions can rely on the most current, relevant data available.
The Atlas is built upon four core datasets, each shedding light on a crucial aspect of global financial flows:
Profit Shifting by Multinationals
Tracks the movement of corporate profits to low-tax jurisdictions
Offshore Financial Wealth
Quantifies assets hidden in offshore accounts
Offshore Real Estate Wealth
Maps the ownership of high-value properties by offshore entities
Effective Taxation Rates on Capital and Labor
Compares tax burdens across countries and income groups across time
With its focus on accessibility, the Atlas simplifies complex tax issues by combining comprehensive datasets with user-friendly visual aids. Take, for example, the profit-shifting dataset. It not only tracks how multinational corporations move profits to low-tax jurisdictions but also explains the methodology behind these calculations. Visualizations demonstrate the total profits shifted out of a country, both in absolute terms and as a percentage of GDP, along with insights into the destinations of these profits.
The platform also covers other key datasets, including offshore financial wealth, real estate holdings, and effective tax rates on capital and labor. Each dataset is accompanied with explanatory visuals, charts, and downloadable data, making the material accessible to both specialists and the wider public. Furthermore, methodology papers ensure that researchers can delve into the underlying calculations or conduct their own analyses. A core principle behind the Atlas is a commitment to open access. All content, from infographics to raw data, is freely available, encouraging transparency and fostering international collaboration.
The Atlas is a game changer for those seeking to challenge inequitable tax systems. By democratizing access to this critical information, it has the potential to transform the global conversation on tax justice, making it easier for advocates and policymakers alike to push for reform.
Policy impacts on national, regional, and global levels
Global
The Atlas has already begun to shape global tax policy. During Brazil’s presidency of the G20, discussions on taxing high-net-worth individuals were informed by the Atlas data on offshore wealth. Insights from the Global Tax Evasion report - which builds on the data found in the Atlas - were frequently cited in G20 documents, underscoring the platform’s growing influence on international tax policy. Forthcoming updates in offshore financial wealth and effective tax rates are expected to play an increasingly prominent role in international tax debates.
Regional
The adoption of the Atlas has been particularly strong in regions where tax cooperation is more integrated. In Latin America, for example, the Regional Platform for Tax Cooperation (PTLAC) has referenced the Atlas in its discussions around reforms such as the automatic exchange of bank information. In Europe, the EU Commission’s 2024 Annual Report on Taxation incorporated Atlas-based research on corporate profit shifting and offshore wealth.
National
At the national level, data of the Atlas has become increasingly used by lawmakers. In France, for example, members of parliament have cited it in debates over the 2025 budget. Also, discussions surrounding French nationals’ offshore wealth and proposed amendments targeting profit shifting were heavily informed by Atlas' data, resulting in concrete legislative measures aimed at enhancing tax transparency and curbing illicit financial flows.
Towards a transparent future
The Atlas is more than a data repository; it is a powerful tool for accountability. By exposing the complex mechanisms of global tax evasion, it enables governments, institutions, and individuals to advocate for greater transparency. As the platform continues to expand, it promises to play an even greater role in supporting research, shaping policy and addressing inequality in the years to come.
Visit
www.atlas-offshore.world
If you would like to know more about the Atlas of the Offshore World you can register for question-hour session here.