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Economy

Tax avoidance drives nearly 40% of global FDI: report

'Phantom' investment flows into Netherlands, Luxembourg and other tax havens

The central train station in Amsterdam: the Netherlands is one of the world's top destinations for "phantom" direct investment, a new study finds.   © Reuters

TOKYO -- Around $15 trillion flowed into tax havens in 2017 under the guise of genuine foreign direct investment, amounting to nearly 40% of global FDI that year, according to a new report co-written by the International Monetary Fund.

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