Tax havens: Everything you need to know

The tax havens These are places where the payment of taxes by companies is subject to very low or even non-existent withholdings, precisely for this reason, many large companies They use these places to locate their main headquarters, or also to create complex networks of client companies with which to drastically reduce withholdings prosecutors.

Countries considered tax havens are often associated with the idea of ​​corruption and money laundering, but is it true that in these countries all business actions are related to illegality?

What are tax havens?

Any country that has a taxation system for tax purposes is considered a tax haven. companies or individuals, non-residents, in such a way that setting the direct debit of their invoices through this country, is exempt from paying taxes, or has a considerable reduction in rates with respect to the country of habitual tax residence.

There are several countries considered as tax havens, although the complete list would see from one country to another, the OECD It is the body in charge of identifying tax havens in the world.

How are companies created in tax havens?

Create a company, or its headquarters, through a tax haven It is not easy, nor is it simple. In fact, the initial investment usually exceeds $ 50,000, to which are added monthly fees of more than $ 2,000, and therefore, contrary to what could be think, it is not advantageous for all companies, but for those with annual income so large as to have to pay very important amounts to the Treasury Public.

Many lawyers are specialized in advising companies, and in carrying out appropriate steps for the creation of offices in tax havens, and the simplest system of action, is through these intermediaries.

Is it always illegal to operate through tax havens?

Although it is not a completely legal activity, the truth is that paying taxes in tax havens It is not always considered illegal, precisely for this reason, many national companies and Prestigious international governments pay taxes through tax havens, and they do so in open form. What is true is that the payment through these paradises it is to the detriment of the country in which the company works.

However, the amounts of money received in a State but not declared to the Public Treasury are considered illegal. national, and that are taxed through shell companies established in a tax haven, or what is the same, money laundering money.