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Friday, 29 April 2016 08:25

What you need to know about tax havens

According to experts, tax havens are territories characterized by having a certain laws or apply a specific type of tax regime, facing enterprises and / or non-residents much more favorable than his own country. The vast majority of cases of corruption and tax evasion tax is at the expense of record companies and national companies or extract money and deposited in foreign accounts of these types of territories, called Tax Havens.

The most common benefits are very significant total exemption or reduction of taxes, that if your money is deposited in him receives what is called bank secrecy.

How do you know whether or not a country is considered a tax haven?

Well, according to the OECD (Organisation for Economic Co-operation and Development) there are 4 factors that are key to their determination.

  1. If residents are allowed to obtain tax cuts despite not having residence in the country.
  2. No communication exists between country destination country of residence.
  3. The jurisdiction does not impose taxes, as reported by the OECD has recognized that each country is free to impose both direct taxes and indirect.
  4. The laws of this country do not exchange information for tax purposes with the country of origin.

They also tend to have disadvantages for those who believe and companies residing in the country, because if so yes they would pay taxes regulated by law that if not residents, not have to pay. With the above, the country has active parallel two separate tax regimes to apply in each case the type that suits you.

With this type of features that have some countries with high purchasing characters, they divert their profits to such countries to save having to contribute higher percentages of money to the state and thus generate even more wealth they have. A year ago, a document setting out the names of Spanish characters who came to this kind of way to evade taxes, and also makes a matter of weeks, exploded worldwide the Panama Papers, a case leaked tax fraud at international level where more than 140 public figures were in documentation law firm Mossack Fonseca, a specialist in asset management and detailing where mechanisms to manage and defraud companies Offshore finance. Some Spaniards Pilar de Borbon, Lionel Messi or the Almodóvar brothers.

Digital Newspaper El Diario