The Netherlands is in 15th place in a list of 60 least transparent tax havens in the world drawn up by the Tax Justice Network (TJN).

The TJN researchers looked into bank secrecy, transparency of financial legislation and the amount of financial transactions into and out of the country.

The Netherlands Antilles is in 38th place in the so-called Financial Secrecy Index. The US state of Delaware topped the list followed by Luxemburg, Switzerland the Cayman Islands and the city of London.

The network wants to see international legislation introduced taking care of the automatic exchange of financial information to prevent tax evasion.

Photo: Tax calculator - Flickr Phillip

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