TAXHAVEN

Tax haven

A tax haven is a state, country or territory where certain taxes are levied at a low rate or not at all. Individuals and/or corporate entities can find it attractive to establish shell subsidiaries or move themselves to areas with reduced or nil taxation levels relative to typical international taxation. This creates a situation of tax competition among governments. Different jurisdictions tend to be havens for different types of taxes, and for different categories of people and/or companies. States that are sovereign or self-governing under international law have theoretically unlimited powers to enact tax laws affecting their territories, unless limited by ...

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tax haven

Noun

  1. A country or province that levies low taxes on foreign businesses.


The above text is a snippet from Wiktionary: tax haven
and as such is available under the Creative Commons Attribution/Share-Alike License.

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