Researchers at the University of Amsterdam have concluded that the Netherlands is the biggest conduit to offshore tax havens in the world. Nearly a quarter of all fiscal constructions reportedly have a Dutch link.

“Only five big countries act as conduit-OFCs,” said the researchers from Corpnet said in a new report.

“Together these five conduits channel 47% of corporate offshore investment from tax havens, according to the data we analysed.”

According to Dutch News online, the two biggest conduits by far are the Netherlands (23%) and the United Kingdom (14%), followed by Switzerland (6%), Singapore (2%) and Ireland (1%).

The researchers hope their findings will enable regulators working to end tax evasion target the policy to the sectors and territories where the offshore activity concentrates.

“While efforts usually focus on small exotic islands, we showed that the main sinks of corporate ownership chains are highly developed countries which have signed numerous tax treaty agreements,” the report said.