What is a tax haven?

Although there isn’t a universally agreed definition of what a tax haven is, a tax haven generally refers to a country or jurisdiction that enables multinational corporations and individuals to escape the rule of law in the countries where they operate and live, and to pay less tax than they should in those countries.

The term “secrecy jurisdiction” is sometimes used instead of “tax haven” to refer to jurisdictions that specialise in enabling individuals to hide their wealth and financial affairs from the rule of law, more than in enabling multinational corporations to shift tax out of the countries where they operate in order to pay less tax.

Learn more about tax havens here.