Cayman: 5th largest

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Korea IT News has reported:

Early this month, Korea Securities Depository disclosed dividend (total 5.14 trillion) given to foreign shareholders by 829 companies that gave cash dividend among companies that had settlement of account in December, 2007.

By nation, America ranked first with 2.41 trillion followed by Britain 541billion, Luxembourg 330.6 billion and Belgium 234.2 billion. British Cayman Islands ranked fifth with 203.2 billion in dividend.

I'm guessing the UK and USA data is pretty genuine (but that may be optimistic).

The figures for Luxembourg, Belgium and Cayman are not. They all reflect tax haven activity.

That's how pernicious tax haven activity is.