tax haven

noun

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

tax haven

noun

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

tax haven

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

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

Example Sentences

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.

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

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

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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.

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The trial had initially been seen as a showcase for Francis’ reforms and his willingness to crack down on alleged financial misdeeds in the Vatican, which long had a reputation as an offshore tax haven.

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