 TAX HAVENS IN THE GLOBAL FINANCIAL CENTERS INDEXSEA - Practical Application of Science, 2014, issue 3, 204-215 Abstract: Previously scrutinized for adopting harmful fiscal measures, tax havens have progressively adhered to the internationally agreed principles of transparency and exchange of information for tax purposes promoted by the Organization for Economic Cooperation and Development (OECD). In this respect, important amendments have been made to both their tax and commercial legislation. Their main competitive advantage remains the favorable fiscal systems characterized by 0% tax rates which have favored the development of well established financial services sectors. The aim of this paper is to analyze the fiscal framework offered by six former tax haven jurisdictions: Monaco, Jersey, Guernsey, Cayman Islands, Isle of Man and British Virgin Islands, which occupy high ranks in the Global Financial Centers Index. The results come to emphasize the importance of these jurisdictions’ tax systems in the development of strong financial sectors. Keywords: Tax haven; Tax policy; Financial sector; Global Financial Center; Internationally agreed tax standard (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:cmj:seapas:y:2014:i:3:p:204-215 Access Statistics for this article SEA - Practical Application of Science is currently edited by Romanian Foundation for Business Intelligence More articles in SEA - Practical Application of Science from Romanian Foundation for Business Intelligence, Editorial Department |
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