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Special Report on

Legal tax havens

legal tax havens special research report Photo by
The Organisation for Economic Co-operation and Development (OECD) is less than happy with a number of the most highly regarded offshore centres and the efforts that they have undertaken to improve transparency and remove the possibility of criminal taxation evasion activity happening within their borders. The OECD update on offshore tax havens targeted specifically Austria, Luxembourg, Switzerland and Singapore claiming that these popular, well regulated, private and secure jurisdictions have been less than fully cooperative with recent amendments to international standards for information sharing. Interestingly enough, ...
Individuals and/or corporate entities can find it attractive to move themselves to areas with reduced or nil taxation levels. This creates a situation of tax competition among governments. Different jurisdictions tend to be havens for different types of taxes, and for different categories of people and/or companies. There are several definitions of tax havens. The Economist has tentatively adopted the description by Geoffrey Colin Powell (former economic adviser to Jersey ): "What ... identifies an area as a tax haven is the existence of a composite tax structure established deliberately to take advantage of, and exploit, a ...
Offshore Tax Havens Innocent in Global Financial Crisis
Many of us are still wondering where the current global financial crisis began; did it begin because of weak regulatory practice onshore in London, was it as a result of greedy bankers in New York, or were offshore tax havens like the Isle of Man perhaps to blame for allowing wealthy individuals to shield their wealth from taxation? Well, a review into what exactly caused the economic breakdown that is affecting the world at the moment was commissioned and has been completed by Lord Turner, who’s the UK’s Chairman of the Financial Services Authority.  He has looked right into the heart of the issue to determine how we have ... market research, surveys and trends
Thank Heaven for Legal Tax Havens
If you're like most Americans, you don't have a secret bank account in Switzerland where you stash money to keep it out of IRS hands. Being out of the foreign tax-shelter loop isn't such a bad thing. Uncle Sam recently signed a new tax treaty with that Alpine nation that should help U.S. collectors crack down on tax-evading owners of foreign bank accounts. But there still are plenty of legal tax havens for law-abiding taxpayers. Even better, most regular Joe and Jane taxpayers can easily take advantage of them. Gimme Shelter If you own a home, your actual shelter is probably your best tax ... market research, surveys and trends


Obama Pushes 'Crackdown' on Legal Tax 'Havens'
on offshore tax avoidance, targeting many U.S.-based multinational corporations and wealthy individuals,” according to The Wall Street Journal.   The Journal said on May 4 that Obama would like to change the way offshore subsidiaries are treated by law ending practices known as “deferral” and “check-the-box.”   “The plan takes aim at a range of financial practices that have combined to erode the U.S. tax base in recent decades. As money has become more readily transferable – and aggressive tax planning more widespread – it has become easier for companies and individuals ... industry trends, business articles and survey research
Recently there has been a sudden influx of professional basketball players opting to take their game to many leagues overseas. The dream of playing in the NBA and basking million dollar contracts are becoming a bit watered down. Some current players in the NBA are making less than $800,000 annually, well below the $4.9 million dollar average. Although there are talented players that enter the league every year, the NBA dream is somewhat short-lived with an average career span of 5years. During that 5-years span, players make an adequate amount of money but also have to pay off multiple expenses such as personal training, taxes, ... industry trends, business articles and survey research
Tax incentives, the oil industry and us
Developing alternative sources of energy, alternative to oil that is, is a national priority, isn't it? So, why are we providing generous tax credits to the very industry from which we're allegedly trying to wean ourselves? Frankly, it seems to me like another case of tax credits gone awry or, to put it another way, tax incentives that have far outlived their usefulness. So, why do we still have them? The easy answer? Lobbying by the industry and its loyal friends in Congress who want it that way. Oil production is among the most heavily subsidized businesses in America, with breaks available at virtually every ... market trends, news research and surveys resources
Mass Data Leak Rattles Swiss Banking
Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit NICE, France—The anonymous emails carried a tantalizing subject line: "Tax evasion: client list available." The messages, sent two years ago to tax authorities across Europe, made an audacious claim: The sender could provide a large client list of a Swiss-based private bank, plus access to its computer systems. The emails were sent to Germany's secret ... market trends, news research and surveys resources


The Duality of Globalisation: A View from the South*
through the use of legal tax havens, and the so-called Tobin tax on short-term speculative capital could be implemented. States acting collectively have the ... technology research, surveys study and trend statistics
FOR IMMEDIATE RELEASE                             May 4, 2009 There is no higher economic priority for President Obama than creating new, well-paying jobs in the United States. Yet today, our tax code actually provides a competitive advantage to companies that invest and create jobs overseas compared to those that invest and create those same jobs in the U.S. In addition, our tax system is rife with opportunities to evade and avoid taxes through offshore tax havens: ... technology research, surveys study and trend statistics
Tax Havens and the Commercialization of State Sovereignty
regulate the cost of license fees and the character of the legal protection that tax havens offer. In other words, tax havens are introducing choice and ...
About how much of a million dollar prize would you have to pay for ...
You must be cracking a joke. In case you are not, you've got to send in estimated tax prior to June 15. If you do not pay, the IRS will do what is called back-up withholding on you. The IRS will withhold at a rate of 28%, unless they determine AT THEIR DISCRETION that you are a tax cheat. Then, the auditors will order more tax withheld. If your wife is divorcing you, you have to file Married Filing Separately. Your tax rate will be 33.61%. I hope you do not live in California. California may rule it a capital gain and tax you 9.3%. If you live in a state that has income tax, you will pay between 5.05 and 8.5%, ...
why aren't there "shared" offshore companies in tax havens ...
imagine a business that wants to provide a service or product online, basically charging people for something done on the internet. For the owners, it would be very nice to have that business registered in an offshore jurisdiction with minimal corporate profit tax. Moreover, in some cases the owners might end up plowing all or most of the income from that business essentially into further development/expansion, so for them the taxation of resulting profits as their personal income would not be much of an issue. Ok, anyway, so obvious stuff, probably everybody's doing it. But, to register and run even the simplest shell ...