This dissertation will deal about Tax Haven in the world. I choose this subject because we recently spoke about tax haven in news, but I think nobody doesn't really realise its impacts on others societies and who are the real culprit. Its fight becomes more important; governments and associations show bad impacts of tax haven on economy and society. But what is a tax haven? A tax haven is a country or territory where certain taxes are levied at a low tax rate or without.
The OECD, Organisation for Economic Cooperation and Development defined 4 items about tax haven countries:
A country becomes a tax haven when:
• Taxes are insignificant or nonexistent
• Lack of transparency in the tax system
• The lack of tax information exchange with other states
During this study, we will see who are the mains users of tax haven, the social and economical impacts and finally the fight against these tax havens. But first of all, let's see its origin.
[...] Origin of Tax Haven The first apparition of tax havens back up years before. J-C. Indeed, in Greece, the first traders send some emissary in ports, then sellers and buyers meets at a precise point to exchange their cargo and avoid port taxes. But tax haven approach were more important in the nineteenth century to the 1930s, with a low or zero taxation for non-residents, easy methods of incorporation, and legally-protected secrecy. Then, from World War I to the early 1970s a small number of states, led by Switzerland, began to develop tax haven regimes as an intentional development strategy. [...]
[...] Its government increased tax exemption to attract companies and capitals. But there are bad consequences: Normally taxes permits to invest in education, health, defence But in a tax haven, the production of the country evades and the country has less money to invest in public spending. So in African countries we have some education, health and safety problems. Where multinationals finds profits, they take poor people money. It increases inequalities, richer become richer and they seems to give work to poor who pay taxes. [...]
[...] First, it increase country's deficit. Indeed as the multinational get some off shore companies, they pay fewer taxes. The financial sector is the most implicated in tax haven. French banks, BNP Paribas, le Crédit agricole and la Société générale gets 361 offshore offices. With the addition of Banques populaires, Dexia and la Banque postale (in Luxembourg), we reach a total of 467 companies. French banks are located in offshore offices to discreetly bear fruit and at a low fiscal cost rich people patrimony and manage executive's wages to avoid taxman (Fisc). [...]
[...] Each year new off shore companies are created. The Cayman Islands are the 5th financial center in the world and the first foreign investor in China. They shelter 65,000 companies for 47,000 inhabitants Jersey, the British island is the first banana exporter in Europe thanks to US companies as Dole, Chiquita or Fresh Del Monte who benefits from this tax haven. Big 4 Who are the This is Audit Companies, their name are PriceWaterhouseCoopers, Ernst & young, KPMG and Deloitte. [...]
[...] Different tax havens lists were made. The OECD listed 37 countries on its grey list and 2 on its blacklist (Costa Rica and Malaysia). IMF counted 17 offshore financial center and ATTAC (Association for the Taxation of Financial Transactions for the Aid of Citizens) about 50 tax havens (new ones in Africa). But these tax havens false competition and they focus money where there isn't an economic need. Most of all, multinationals used it. It's difficult for the countries their policy affected to fight against tax haven. [...]
Bibliographie, normes APA
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