TAX HAVENS ARE GOOD THINGS…

TAX HAVENS are nothing to do with tax evasion and crooked business activities generally. It’s no good political pundits making a big fuss and begging to people’s feelings of self-poverty with a plea of “everyone must pay tax”.

The fact is, no country controls the world, and no country should be allowed to control the world. There is fair competition, and that means that you should be allowed to escape from whatever tax-tyranny you live under and move to another country where there is more freedom. So, ask yourself, “Do you like paying tax?”. If your answer is “No!”, then consider carefully your options. You could move to another country where the tax is less, and possibly zero. You should be free to make that move. Much of the confusion is generated because of an almost deliberate desire to mislead and to mix up the ideas of Tax.

Avoidance (which is honest) and Tax Evasion (which is crooked). There is an issue of Transparency, which is really a matter of having your financial affairs sufficiently open that it’s possible to see that there isn’t a money-laundering racket going on, tax evasion in another country, etc.

However, you have a human right to have a private life as well as a public life, and what you do in private is no-one’s business but your own!

Well Done to any country declaring itself to be a TAX HAVEN, as that’s another place where there’s freedom and prosperity!

Albania: I have been assured that the tax rate is around 7% to 10% in this South East European country, and that tax solutions are possible because of the banking arrangements. Andorra: Mountainous country in the Pyrenees between France and Catalonia. Well known for being an independent tax haven nation. I’ve heard the skiing is good.

Antigua and Barbuda: There are some funny laws in Antigua, for example you’re not allowed to wear any outfit made of camouflage patterned material, regardless of the style.

Aruba : Aruba is a popular tourist destination, a Dutch Island in the Caribbean just off Venezuela. There is almost no crime.

Bahamas: – There are no taxes levied on capital gains, corporate earnings, personal income, sales, inheritance, or dividends. However there is a 1-2% tax/year on property ownership, and a few import taxes.

Bahrain: An Arabic country which is said was a tax haven.

Barbados: Possibly a low tax country claiming tax rates to be about 2% o.

Belize: Current information to hand suggests there is a 6% tax on companies operating within the Belize market, but not international businesses which are encouraged to move there.

Bermuda: Any company in Bermuda has to be 60% owned by Bermudians.

Cayman Islands: In the Caribbean, just South of Cuba. No income tax, no inheritance tax. Zero percent tax. Some VAT and hotel tax etc.tax havens list

Costa Rica: Income tax is only charged on income made actually in Costa Rica, with international income being exempt.

Cyprus: An island in the Mediterranean. Half of it is Greek, and the other half Turkish.

Dominica: Commonwealth of Dominica. There is no capital gains tax in Dominica.

Ecuador: Apparently, Ecuador does not levy tax on income earned outside the country by foreign residents.

Gibraltar : Tax advice given by travel agents suggests this is good, but ask accountants to make sure

Guatemala: Apparently, “Guatemala does not levy tax on income earned outside the country and foreign residents with no income from sources within Guatemala are not even required to report their income or file a return”,

Isle of Man: If you like the British seaside and you don’t mind paying 10% tax*, the Isle of Man could be a place to move to. Most of the hotels on the promenade are now banks, even if you don’t live in the Isle of Man, you are allowed to have an offshore bank account in the Isle of Man and avoid paying tax provided you don’t live in the UK..

Get the advice of an Independent Tax Adviser!

ILiberia: African country, well-known for being a Flag of Convenience.

Liechtenstein: – A small country in the middle of Europe.

Luxembourg: A small country in the middle of Europe. Famous for Radio Luxembourg 208.

Malaysia : It’s in the up-and-coming East which could change the balance of power. Malaysia gets included in the list following the OECD’s decision to “name and shame” tax havens, and it’s decided to pick on Malaysia.

Malta: The tax rate is 15%, but there are special discounts for electronic manufacturing companies because they’re the latest fashionable thing! That doesn’t include Internet companies

Nauru is looking for someone with a brilliant idea to put it back on the world economic map. If you travel to Nauru, local people there may ask you “why ever have you come here?”

Netherland Antilles : The Dutch Antilles. These include St Eustatius, Saba, and Sint Maarten, and in a separate group Curacao and Bonaire.

New Zealand: Although New Zealand is not primarily a tax haven, there are some tax situations in which you can migrate to New Zealand and have a tax efficient arrangement.

Sri Lanka: There are probably some tax haven like things about the large island of Sri Lanka off India, if you get the tax planning right.

St Lucia: Caribbean island. Regimes take it in turns to rule the place. St Kitts and Nevis: Or “The Principality of St. Christopher and Nevis. St Vincent and the Grenadines: Or “The Republic of St. Vincent”. It’s an old volcano, but it’s a long while since it erupted last. UK: There are various Good and Bad things about the UK. There is a perspective in which the mainland UK is a tax haven, provided you are not British.

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