Political risk is the risk faced by investors and corporations that political decisions, events, or conditions will significantly affect the profitability of a business. This will include macroeconomic and social policies (fiscal, monetary, trade, investment, industrial, income, labour, and developmental), or events related to political instability (terrorism, riots, coups, civil war, and insurrection). Tax havens…
When choosing a tax haven, its location, proximity and accessibility can be a deal breaker. Generally, tax havens close to major financial centres, where you live, or do business will be preferred. The Cayman Islands, for example, is only 725 km from Miami (Florida) and can be accessed by an 80-minute flight. Delaware, for example,…
English law is the preferred governing law for business transactions worldwide, as English law has a well-known, well-developed and reputable jurisprudence. In addition, because of the British Empire, English law is widespread as its former colonies have modelled their legal systems closely on English law. UK tax havens include the 14 British Overseas Territories (including…
There are 19 different reasons to use a tax haven, some legal, and some illegal. No doubt, there are many more, so when choosing a tax haven, we need to firstly look at our objectives – what are we really trying to achieve? Some of the objectives will be complementary (like saving tax and privacy),…
Income generated from assets held in tax havens is often not disclosed, or included, in the controlling taxpayer’s tax returns. The amount of income not disclosed, and taxes avoided, will never be known. But what is certain, is that with $6 trillion of assets in tax havens, the income generated (and untaxed), must be phenomenal. …
Countries restructure and redesign their tax system to become a tax haven for two main reasons – jobs and money. Some Countries may offer a lower tax rate to large corporations, in exchange for the companies locating a division of their parent company in the host country and employing some of the local population. Apple,…
Taxation has been around since 6,000 BC (in Ancient Mesopotamia). Mesopotamia is the name of the Tigris-Euphrates river system (corresponding to most of Iraq, Kuwait, the eastern parts of Syria, and regions along the Turkish-Syrian and Iran-Iraq borders). Since then taxpayers have been reducing their tax liabilities by utilising the differing tax laws operating in…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2