Tax haven: Difference between revisions
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imported>Doug Williamson (Expand for PANA inquiry and secrecy jurisdictions.) |
imported>Doug Williamson (Add quote. Source: European Council webpage https://www.consilium.europa.eu/en/policies/eu-list-of-non-cooperative-jurisdictions/) |
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A low tax environment - usually a country - used to shelter income and gains from taxation or to defer taxation. | A tax haven is a low tax environment - usually a country - used to shelter income and gains from taxation, or to defer taxation. | ||
:<span style="color:#4B0082">'''''EU's 'non-cooperative' tax jurisdictions list'''''</span> | |||
:"The EU list of non-cooperative jurisdictions for tax purposes is a tool to tackle: | |||
:*Tax fraud or evasion: illegal non-payment or under payment of tax | |||
:*Tax avoidance: use of legal means to minimise tax liability | |||
:*Money laundering: concealment of origins of illegally obtained money | |||
:It lists non-EU countries that encourage abusive tax practices, which erode EU member states' corporate tax revenues. | |||
:By identifying these countries at EU level, member states can act together to put pressure for reform. The aim is not to name and shame countries, but to encourage positive change in their tax legislation and practices, through cooperation. | |||
:As of February 2020, the EU list comprises: American Samoa, Cayman Islands, Fiji, Guam, Oman, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu, Seychelles." | |||
:''European Council, February 2020'' | |||
== See also == | == See also == | ||
* [[Beneficial owner]] | * [[Beneficial owner]] | ||
* [[European Council]] | |||
* [[European Union]] | |||
* [[Her Majesty’s Revenue & Customs]] | * [[Her Majesty’s Revenue & Customs]] | ||
* [[Inland Revenue]] | * [[Inland Revenue]] | ||
* [[Jurisdiction]] | |||
* [[Nominee]] | * [[Nominee]] | ||
* [[Offshore]] | * [[Offshore]] | ||
| Line 13: | Line 34: | ||
* [[Secrecy jurisdiction]] | * [[Secrecy jurisdiction]] | ||
* [[Taxable person]] | * [[Taxable person]] | ||
== External link == | |||
[https://www.consilium.europa.eu/en/policies/eu-list-of-non-cooperative-jurisdictions/ EU list of non-cooperative jurisdictions] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Revision as of 21:18, 19 May 2020
A tax haven is a low tax environment - usually a country - used to shelter income and gains from taxation, or to defer taxation.
- EU's 'non-cooperative' tax jurisdictions list
- "The EU list of non-cooperative jurisdictions for tax purposes is a tool to tackle:
- Tax fraud or evasion: illegal non-payment or under payment of tax
- Tax avoidance: use of legal means to minimise tax liability
- Money laundering: concealment of origins of illegally obtained money
- It lists non-EU countries that encourage abusive tax practices, which erode EU member states' corporate tax revenues.
- By identifying these countries at EU level, member states can act together to put pressure for reform. The aim is not to name and shame countries, but to encourage positive change in their tax legislation and practices, through cooperation.
- As of February 2020, the EU list comprises: American Samoa, Cayman Islands, Fiji, Guam, Oman, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu, Seychelles."
- European Council, February 2020
See also
- Beneficial owner
- European Council
- European Union
- Her Majesty’s Revenue & Customs
- Inland Revenue
- Jurisdiction
- Nominee
- Offshore
- PANA inquiry
- Panama Papers
- Paradise Papers
- Secrecy jurisdiction
- Taxable person
