What is a tax haven?

These are very low tax-laden jurisdictions, with very friendly tax regimes for those who decides to put their money in the banks. For pensioners and those who manages large fortunes, tax havens are very attractive places, because they allow them to carry out legal operations that affects a lower tax burden. But the map of tax havens, product of the pressure, is changing and more and more the jurisdictions that joins the information exchange treaties (that is, they share financial data of the people). Among those who have signed treaties we find the always neutral Switzerland, Cayman Islands, Ecuador, Bermuda, Isle of Man, Jersey, Gibraltar, Mauritius, Philippines, and even Barbados, Chile, Dominica, India, Niue, Seychelles, Uruguay, Trinidad and Tobago. In Europe, jurisdictions have also received heavy pressures, for example, Liechtenstein, Vatican City, San Marino and the Principality of Monaco have surrendered, and thus have ceased to be attractive to those who resorted to these jurisdictions to save money on taxes. The problem does not ends there, but for 2018 other countries announced that they will join the standard: Andorra, Saudi Arabia, Australia, Bahamas, Belize, Brazil, Brunei, Canada, China, Costa Rica, Dar es-Salaam, Grenada, United Arab Emirates, Hong Kong, Indonesia, Israel , Japan, Marshall Islands, Macao, Malaysia, Monaco, New Zealand, Qatar, Russia, Saint Kitts and Nevis, St. Lucia, Saint Vincent and the Grenadines, Samoa, Singapore, San Martín, Turkey.

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