Tax Havens And The Money Laundering Phenomenon
AbstractBy using tax havens, the multinational companies are able to exercise an efficient fiscal management that covers also the area of the repatriation of the dividends in foreign currency. The choice of whether or not to use a fiscal paradise resides in the desire of the maximum avoidance of the fiscal burden. The option of investing in a fiscal paradise is based on an economic efficiency calculus named in the speciality literature “option pricing”. It refers to the total material profit obtained as a result of the activities of avoiding taxation by using the tax havens. Most of the national economies have become interconnected with the general globalization trend and, implicitly, with the internationalization of the organized crime, money laundering now represents the terminal point of the economic and financial criminality. The basic money laundering procedure aims at dispersing the origin of the fraudulently made profits for the purpose of creating a legal appearance of the involved amounts that are to be reintroduced later on into the legitimate economy.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Accounting and Financial Management Constanta in its journal Journal of Academic Research in Economics.
Volume (Year): 3 (2011)
Issue (Month): 3 (November) ()
Contact details of provider:
Web page: http://www2.spiruharet.ro/facultati/facultate.php?id=9
More information through EDIRC
economic and financial criminality; illicit international transfer of capitals.;
Find related papers by JEL classification:
- H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion
- K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudiu Chiru).
If references are entirely missing, you can add them using this form.