In layman’s terms, what is a tax haven?

In-laymans-terms-what-is-a-tax-haven

Answer by Prashant Thakur:

Tax Haven is a country where there are no taxes or most of the income is tax exemption. The country's economy is based on funds flow from outside. Thus , they create a legal framework under which bring money , incorporating business entities are very easy and without much regulation , specially on the source of income.

So, tax evaders , crooks , kings and unscrupulous businessmen, smugglers, drug cartels , corrupt politicians create trust or entity and park the money there . No question about identity of source and the beneficiary are major incentive. Very low taxation is Bonus.

If you would like to know more on tax haven country, a very good site is International Consortium of International Journalists

You can also watch
https://www.youtube.com/watch?v=gy2RgjIIZyA
There are many other articles on Page on taxworry of thsi writer

In layman's terms, what is a tax haven?

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