I am not sure how and why everyone is ignoring the elephant in the room here. These laws are being "forced" by different "international" organizations at pretty much every country (except partially China and countries like Iran and North Korea that don't give a damn). Many countries could make money accepting financial refugees. That's how Hong Kong and Singapore built their wealth city states (good governance was just a part of it).

Even if we are being moralistic and transparent; for some countries, being tax-free is their only competitive advantage. Instead we are now to assume that tax-free jurisdictions are evil and should be abolished. Might as well just restart colonialism; at least colonial countries got to be part of the big trade.