Financial Glossary: Tax Haven


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Tax Haven

Tax Haven

A Tax haven is a country, which provides a no-Tax or Low-Tax environment.

Individuals and firms find it attractive to move themselves to areas with lower Tax rates. Among governments, this creates a situation of Tax competition. Different jurisdictions tend to be havens for different types of taxes, and for different categories of people and/or companies.

The U.S. is considered a Tax haven by some countries. In some offshore jurisdictions the reduced Tax regime is aimed towards entities organized in the country with all operations occurring outside the country. These countries seek to encourage investment and make up revenue losses by charging a variety of fees for the start up of the entity and on an yearly Basis.

Posted by Shine Consultant International

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