Tax Haven : What is a Tax Haven and Why Flipkart deal happen in Singapore
What is a Tax Haven? A tax haven or offshore financial center is any country or jurisdiction that offers minimal tax liability to foreign individuals and businesses. Tax havens do not require businesses to operate out of their country or the individuals to reside in their country to receive tax benefits. Benefits to a Tax Haven To Tax Haven Countries – The countries benefit by way of attracting capital to their banks and financial institutions, which can then be used to build a thriving financial sector. To Individuals or Businesses – The individuals and businesses benefit by saving tax, which in tax haven countries may range from zero to low single digits compared to high taxes in their country of citizenship or domicile. Source https://corporatefinanceinstitute.com/resources/knowledge/other/what-is-tax-haven/ Top Tax Havens in the World 1. Bermuda : zero percent ...