Fighting Harmful Tax Competition Generated by Offshore Jurisdictions

Dan Drosu Saguna and Daniela Iuliana Radu ()

Academic Journal of Economic Studies, 2015, vol. 1, issue 1, 130-136

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.

Keywords: Tax haven; tax competition; offshore jurisdiction; taxation; tax (search for similar items in EconPapers)
JEL-codes: E62 H39 (search for similar items in EconPapers)
Date: 2015
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