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Fighting Harmful Tax Competition Generated by Offshore Jurisdictions

Author

Listed:
  • Dan Drosu Saguna
  • Daniela Iuliana Radu

Abstract

Harmful tax competition is not just tax system, but can also undermine the interests of local communities and the environment. Tax havens are a huge drain of resources from other countries (basic non tax haven) to offshore areas. To operate, tax havens are supported economically, politically, and socially by high tax states. Also, by encouraging savings, it boosts investment and capital formation. Because they are low tax jurisdictions, they exert a higher tax on tax rates worldwide.

Suggested Citation

  • Dan Drosu Saguna & Daniela Iuliana Radu, 2015. "Fighting Harmful Tax Competition Generated by Offshore Jurisdictions," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 1(1), pages 130-136, March.
    • Handle: RePEc:khe:scajes:v:1:y:2015:i:1:p:130-136
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    More about this item

    Keywords

    Tax haven; tax competition; offshore jurisdiction; taxation; tax;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H39 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Other

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