Bubble size = profit before tax · tax havens in red · headquarter country in green

This chart plots each country's profit per employee against its effective tax rate (tax accrued ÷ profit); bubble size is profit before tax. Comparing profit with a real production factor like employees can indicate profit shifting: a country with very high profit per employee and a low tax rate, especially a tax haven (red), points to profit booked out of proportion to the activity actually located there.
Notes. Only jurisdictions with positive profit and at least one employee are shown (profit per employee is undefined without employees); effective tax rates above 100% are excluded as outliers. Figures are in euros. Reports that aggregate small jurisdictions under 'Other' may understate haven presence, so these ratios are indicative, not definitive.