/Tag:tax havens

Bulgaria eases restrictions on offshore ownership

While numerous countries all over the world are imposing new restrictions on companies registered in tax havens, the Bulgarian government has recently eased the laws governing offshore ownership. Following the recommendations of the European Commission, the new amendments of the Bulgarian Offshore Law now permit offshore entities to own up to 10% of Bulgarian companies engaged [...]

Offshore firms own 40.000 properties in London

A research conducted by the British newspaper The Guardian demonstrates that the offshore ownership of properties in London has increased with 9% over the last 10 months. At present, companies registered in tax havens, such as Panama, Liechtenstein, Cayman Islands, and the British Virgin Islands, own around 40.000 commercial and residential buildings in Greater London. The [...]

Google Keeps EU 10 Billion in Bermuda

Google tax strategies and accountancy practices are widely discussed topics not only in media, but also on a governmental level. News website shave recently disclosed information that, every year, Google sends profits of about EU 10 billion to the Bermuda Island, one of the world’s tax havens offering a 0% corporate tax rate. However, the only [...]

South Dakota: tax haven on the prairie

The U.S. is one of the world’s leading tax havens for high-net-worth individuals and businesses that are seeking to shelter their assets from taxes. The U.S. states of Alaska, Delaware, and Nevada are known for their tax-efficient legislations and well-developed trust laws. Since U.S. trusts are governed by state laws and not by federal laws, the [...]

US attracts more super-rich than Caymans, Singapore, and Luxembourg

The Financial Secrecy Index recently introduced by the independent Tax Justice Network (TJN) reveals that the U.S. performs more offshore financial activities and is more secret than many famous tax havens, such as Cayman Islands, Luxembourg, and Singapore. The Financial Secrecy Index is based on: (i) the level of financial secrecy provided by the examined jurisdictions [...]