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What Tax Havens Are?


  • Liliana Bunescu

    () (Lucian Blaga University of Sibiu, Faculty of Economic Sciences)


Everyone has heard about countries such as Antigua and Barbuda, Bahamas, Costa Rica, Guernsey, Cayman, Isle of Man, Vanuatu, Liechtenstein, Switzerland being tax heavens. Who would not want to pay lower taxes, if not at all? Probably it’s a dream for any person or company to take part from a jurisdiction which does not impose taxes or impose it low. They are not a recent invention of globalization, tax free zones appeared in the same time as commerce, but nowadays they play a much more important role than in the past for finance and commerce worldwide. Tax havens are not necessarily island territories. While many tax paradises are situated in the tiny islands spread in the Caribbean or Pacific, others are in the middle of or near the richest regions of the world, in Europe or Asia.

Suggested Citation

  • Liliana Bunescu, 2008. "What Tax Havens Are?," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 3(3), pages 10-13, October.
  • Handle: RePEc:blg:journl:v:3:y:2008:i:3:p:10-13

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    References listed on IDEAS

    1. Olivier Boiral, 2013. "Sustainability reports as simulacra? A counter-account of A and A+ GRI reports," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 26(7), pages 1036-1071, September.
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    Cited by:

    1. Li, Huajiao & An, Haizhong & Fang, Wei & Wang, Yue & Zhong, Weiqiong & Yan, Lili, 2017. "Global energy investment structure from the energy stock market perspective based on a Heterogeneous Complex Network Model," Applied Energy, Elsevier, vol. 194(C), pages 648-657.

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    tax; tax haven; fiscal paradise; offshore companies;


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