INTERNATIONAL BUSINESS

Topic TAX HAVEN COUNTRIES

TAX HAVEN COUNTRIES

GROUP MEMBERS:
SANGITA KOKANE TRUPTI YADAV RUPALI ADHANGLE NIKITA MAHIRE 19 82 01 69

MEGHANA SONAR
ARCHANA KHARAT NEELAKSHI KUSHWAH

91
88 22

INTRODUCTION
Definition : A TAX HAVEN -

A tax haven is a foreign country or dependency that

has a series of unique characteristics, the primary one being relatively lower tax rates in comparison with other countries

INTRODUCTION
Characteristics of tax havens

Current scenario :
There are at least 30 jurisdictions around the world as tax havens , Including - Austria, the Cayman Islands, Hong Kong, Panama, Singapore and Switzerland

REASONS FOR USING TAX HAVENS : Tax related reasons - The formation of an offshore corporation Non-tax reasons - The privacy and confidentiality they offer for business transactions Freedom from overly restrictive banking regulations

CORPORATE TAX HAVENS

Definition :A corporate tax haven is an offshore jurisdiction that entices companies or corporations to use them as a legal domicile in order to benefit from a lower rate of tax, or for purposes of avoiding tax.

CORPORATE TAX HAVENS

An emerging trend Offshore financial center It actually promote business and revenue

TYPES OF TAX-HAVEN
No-Tax Havens
No-Tax-on-Foreign-Income Havens Low-Tax Havens Special Tax Havens

TAX HAVEN LOCATIONS

European Tax Havens
Switzerland The Isle of Man, Jersey, Guernsey, Gibraltar, Lichenstein and Luxembourg

TAX HAVEN LOCATIONS

Caribbean Tax Havens
The British Virgin Islands introduced a great entity the BVI IBC Bahamas Barbados

TAX HAVEN LOCATIONS

North American Tax Havens
Delaware and Alaska

TAX HAVEN LOCATIONS

Central American Tax Havens
Belize and Panama

TAX HAVEN BENEFITS

Asset protection Reduce tax liability Provide privacy & confidentiality

Attract individuals and corporate

Stability & security of clients Different levels of taxation Numerous Offshore financial centres & tax havens

TAX HAVEN DISADVANTAGES

Inaccessibility of their money. Many government and governmental agencies Not easy to identify an appropriate financial centre Disaster to the economy

TAX HAVEN MYTHS Tax Havens all have zero tax

 TAX HAVENS ARE ALL EXOTIC ISLANDS.

DELAWARE ISLE OF MAN

 TAX HAVENS ARE JUST FOR CRIMINALS

CONCLUSION
IN THE US, THE IRS AGENTS' HANDBOOK DEFINES TAX HAVEN AS

"a term that generally connotes any foreign country that has either a very low tax or no tax at all on certain categories of income."