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    Tax Havens

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    A tax haven is a country that offers foreign corporations and individuals relatively low corporate and income tax rates, with a politically and economically stable environment. Some tax havens are Switzerland, Hong Kong, Bermuda, Ireland, and the Cayman Islands. The United States government has been fighting against the movement of corporations because it is not collecting taxes from these corporations that it could have used to reduce government debt. However, corporations have found loopholes that

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    Tax Havens Case Study

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    transfer of intellectual property and profits to tax haven countries has become a common and lucrative business practice. Through the use of foreign holding companies, or so-called “Controlled Foreign Corporation (CFC)”, MNCs have been able to generate higher profits while avoiding high U.S. corporate income tax rates on worldwide earnings. Overall, 83 of the 100 largest publicly traded U.S. corporations have subsidiaries in locations listed as tax havens or financial privacy jurisdictions, according

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    The phrase “tax haven” usually is associated with the islands of the Caribbean, the Alps of Switzerland, or a developing nation looking to improve its economy by encouraging businesses to come there, a place where the wealthy and multi-national enterprises can hide away their wealth from home states. They are seen as corrupt states, willing to help the already corrupted, but is the full truth? Could it be that tax havens play a key part in the development of not only a state, but the furthering

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    laws, Swiss private banking is in good shape. Customers value Switzerland for its security, political stability and stable currency, and have continued to pour in new money over the past two years. Tax evasion isn't as important as sometimes supposed; much of the money coming in is from regions with low tax rates, like the Middle East and Asia. With the super-rich likely to see their wealth rise significantly in the coming years, the future is bright for Swiss banks. But, this also hurts the United

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    Offshore Banking

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    Offshore banking is the action of having a bank account outside of the country of residence. Since its start, offshore banking has become a considerably lucrative business. Many of those who take part in offshore banking are looking for a secure location to place their income or seize the opportunity of having lower taxes. However, there are those who misuse the privilege of a foreign bank and use the business ventures for illegal actions rather than the original purpose of the dealings. Offshore

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    objective

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    become hard to confiscate or track the money.So, this becomes the main objective for the establishment of offshore banking at 1950s. (Terry Dwyer. ‘Harmful’ tax competition and thefuture of offshore financial centres, such as Vanuatu. Retrieved from http://archive.freedomandprosperity.org/dwyer-11-00.pdf) The development of modern tax havens is normally associated with rising taxation in the 1960s. The lead of Bahamas, Cayman Islands and Singapore in the offshore banking business in the 1960s was

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    Quattroporte is in a Stage of High Growth

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    To come to a recommendation we compared each jurisdiction using the seven risk factors identified in Table 1.1. As such, each factor was assigned a value from 1 thru 5, 1 being very low risk and 5 being very high risk. This risk analysis allowed us to identify which jurisdiction provided the least amount of risks based on the selected criteria. Such data provided valuable insights into the relative stability of the economies as a whole, their ability to keep taxes low, the repatriation of funds back

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    are greatly influenced by taxation, there are many strategies which MNC’s use to reduce tax which need intelligent structuring of a company is certain jurisdictions around the world in order to be successful. The main strategies I will be discussing are the: 1. Choice of where MNC’s set up their permanent establishment (PE)/headquarters, 2. Where their subsidiaries will be located, 3. Will they use tax havens? 4. Transfer pricing 5. Royalty payments. In my example later I will also discuss specific

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    In the 21st century the global economy has suffered a major economic crisis greatly affected by the misuse of offshore banks. How does offshore accounts and all of its components work? Offshore accounts many times bring subjects such as tax haven, laundering of money and off record assets. Individuals that have offshore accounts control accounts through a credit card that has a unique and individual number and secret code. This system helps all of these banks provide financial secrecy which is that

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    regarding the financial market that, arguably, may derail the global economic recovery. Not enough with the banks, the governments of major economies led by G-20, are now trying to go after taxes of multinational companies, which they alleged using tax planning schemes to avoid paying their “fair share” of taxes that can be used to finance economic development for the public, which facing deep spending cuts especially in many major economies such as United Kingdom (UK) and United States of America

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