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Tax Havens in the Offshore World

Author

Listed:
  • Sergiu-Bogdan Constantin

    (Bucharest University of Economic Studies, Faculty of Accounting and Management Information Systems)

Abstract

The research on tax havens started because of the “Panama Papers” scandal. Tax havens exist because of taxation. Taxation is vital for any society because it is a revenue source for government. Through taxation governments get money to fulfil their role in society. It plays a major role in investment decisions and can be also an innoportunity for taxpayers. Tax havens are tax free areas that have the status of states and function legally. Their main business is to attract money by creating taxpayers friendly environments and by total secrecy. Panama is the biggest USinfluenced tax haven. Tax evasion through tax havens is illegal and is the evading of declaring and paying taxes. Tax avoidance through tax havens is the legally avoiding of declaring and paying taxes. Tax havens are not illegal but are immoral because vast amounts of money drain from the states around the world to them.

Suggested Citation

  • Sergiu-Bogdan Constantin, 2016. "Tax Havens in the Offshore World," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 487-491, July.
    • Handle: RePEc:ovi:oviste:v:xvi:y:2016:i:1:p:487-491
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    More about this item

    Keywords

    tax havens; taxation; tax evasion; tax avoidance; Panama;
    All these keywords.

    JEL classification:

    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance

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