U.S. Emerging as ‘Leading’ Tax and Secrecy Haven, EU Report Says

The U.S. is emerging as a “leading tax and secrecy haven for rich foreigners” because of its resistance to global tax disclosure standards and the array of tax-free facilities available for non-residents, according to a European Parliament report.

Released March 7—two weeks before European Union lawmakers visit Washington D.C. and Delaware to probe money laundering and tax evasion issues—the report says U.S. states such as Nevada, Wyoming, South Dakota and Delaware are attracting money flows from around the world because of laws that permit beneficial owners of companies to remain anonymous.

“The United States provides a wide array of ...