Table 5 Direct shareholders and subsidiaries of the “conduit” companies
From: Identification of key companies for international profit shifting in the Global Ownership Network
the Netherlands | Hong Kong | the United Kingdom | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Subsidiary | Shareholder | Subsidiary | Shareholder | Subsidiary | Shareholder | ||||||
DE | 13% | ES | 14% | CN | 60% | KY | 24% | ES | 28% | NL | 12% |
GB | 10% | GB | 14% | VG | 11% | BM | 13% | IE | 10% | DE | 10% |
PL | 7% | US | 13% | TW | 6% | VG | 11% | ID | 8% | IE | 9% |
BE | 7% | DE | 11% | NL | 4% | FR | 6% | DE | 7% | US | 7% |
ES | 7% | CH | 8% | BM | 2% | CN | 5% | NL | 6% | AU | 7% |