tax haven

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This contribution concerns the increasing numbers of Czech and Slovak commercial companies that have for tax reasons relocated their headquarters to tax havens in 2008-2011.
Why these tax havens have become financial hubs is best explained from the policies they have followed which was also cited as an example by the finance ministry's own economic survey this year.
As Vince Cable said the other day, "nobody keeps their money in tax havens for the quality of their investment advice; these are sunny places for shady people.
Trillions of dollars continue to accumulate beyond the reach of government in tax havens, with the middle class left to fill the public coffers and make up for this shortfall.
It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad.
In some of the recent important cases being investigated by CBI, such as 2G, CWG and Madhu Koda cases, we find that money is taken to Dubai, Singapore, Mauritius, from where it goes to Switzerland and other such tax havens," said Singh.
This knowledge allows him to use the Gaydamak affair, when the Russian-born Arkady Gaydamak allegedly created an $800m oil-for-arms deal for Angola that skirted international sanctions and made extensive use of the secrecy of tax havens.
The issue of tax havens is not solely one of promoting financial integrity and stability, but also one of balancing the federal budget.
The number of companies moving their seats to tax havens is increasing very slowly in annual terms, however, the Hospodarske Noviny daily wrote on March 1, citing Stpanova.
The EU has listed Tunisia in the blacklist of 17 countries outside the EU classified as tax havens, adopted by 28 European finance ministers, at a meeting held last Tuesday in Brussels.
It also criticized the EU for not following international standards in its screening of the tax havens.
While the EU finally came up with 17 tax havens, Oxfam listed 35.