tax haven

American  

noun

1. a foreign country or corporation used to avoid or reduce income taxes, especially by investors from another country.

---

tax haven British  

noun

1. a country or state having a lower rate of taxation than elsewhere

---

tax haven Cultural  

1. A place that levies very low taxes or none at all on foreigners.

---

Discover More

Monaco and various small Caribbean island nations are famous as tax havens.

Example Sentences

Dozens of small companies incorporated in Caribbean tax havens and operating in China, Hong Kong, and Southeast Asia have flooded onto the Nasdaq stock exchange over the past few years.

From Barron's

Some of the gambling sponsors are based in tax havens such as Curacao and Malta, allowing them to keep more of the profits they make from customers.

From BBC

It is not unusual for businesses to legally avoid paying tax on their profits by making their investments from companies in tax havens.

From BBC

The investigation revealed that six of Sheinbaum’s family members, including her mother, hid millions in offshore tax havens.

From Los Angeles Times

They also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.

From BBC