If there is a hot topic in society, that is none other than tax havens. In particular, from the point of view of taxation which is the one that affects taxpayers the most. Because above all it is a manifest act of solidarity and that has a minimal part of society as the main protagonists of this action as little irregular. Because on the other hand, we must not forget that there is no single tax haven, but many more than what national public opinion thinks.
To understand this complex tax issue, there is nothing better than knowing in all its depth what its meaning is. Well, tax havens are basically a nation or geographical area that stands out for its limited or especially for its low tax. And that they are used by a part of society that wants to see reduced the taxes that they must pay according to the law of their respective countries. It is enough to remember that according to different international organizations there are currently about 50 tax havens that are spread all over the world, even in countries unsuspected by the readers themselves.
Another of the meanings of tax havens that can be better understood by users is that they are territories with tax laws but that are very lax for the user. actual tax payment. Where it can even be imposed as a legal residence for natural or legal persons. With the sole objective of paying less taxes, which is ultimately what it is all about. This is one of the reasons why it is a controversial topic like few others. Because, in addition, a lot of money is at stake in the so-called tax havens. Which is the topic that is being debated at the moment. Beyond other legal considerations and even from an ethical point of view.
Tax havens: what are you looking for?
There is one thing very clear within these special destinations and that what is sought above all is to pay less money than you should formalize in your own country. Whatever this is, it affects all countries in the world and can affect Spanish, American, Japanese citizens or any other nationality. From this general scenario, there is a factor that you must take into account from now on. This is what refers to the impunity that these unethical practices that some people opt for in their main desire to save more money in their personal or family accounts can have.
On the other hand, the impact it has on general accounts of a country. To the point of not raising millions and millions of euros every year. It is a reality that is revealed, unfortunately, every year. Not surprisingly, it is an undeniable reality that can be seen on a day-to-day basis. From this worrying scenario that are developed in all countries of the world. Because it is not a monopoly of a single country, but on the contrary, absolutely of all. From the richest to the least developed across international geography.
What are these tax centers?
At this time comes the topic that all readers expect and that is none other than the countries or geographical areas that are objectively considered as tax havens. Well, having said previously that they reach the figure of 50 destinations, there are some more striking than others and that they may surprise you in a special way from now on.
Because in effect, at the end of 2017 the ministers of Economy and Finance of the European Union have imposed a black list of tax havens that is made up of 17 countries, among which are Panama, Tunisia, South Korea, United Arab Emirates or Mongolia, among some of the most relevant. Spain, on the contrary, has its own list, more rigorous in which it includes other countries. Specifically, the list has 48 countries and today a good part of them continue in this situation. In any case, Andorra, Netherlands Antilles, Aruba, Bahamas, Barbados, United Arab Emirates, Jamaica, Malta, Trinidad and Tobago, Panama, San Marino and Singapore have come out.
Paradises as exotic destinations
In any case, one aspect that draws special attention is that referred to some exotic destinations that are considered the great tax havens at the moment. Of course their names are on everyone's lips and it is not very difficult to know what Fiji, Solomon Islands, Jersey or the Isle of Man are some of the emerging paradises within this complex list of destinations destined for tax evasion. Generally through the network of certain companies, but which can also be used by individuals with large fortunes.
On the other hand, it is very convenient for you to know that according to a report developed by the NGO Intermon Oxfam shows that the money that is diverted to these destinations has risen in recent years to 24 billion euros. This overwhelming figure confirms that the so-called tax havens actually move almost a third of the World Domestic Product (GDP). A money, then, that cannot be used in the end for research, social resources, health or other areas of great importance for taxpayers in each of the states affected by this fiscal scourge.
What do these places offer?
There is no doubt that these sites offer a solution to the fiscal problems of individuals who have greater purchasing power in their personal accounts. It is not surprising that this is the strategy used to attract the money of the most economically powerful in the world. From this general scenario, tax havens undoubtedly offer the safest path for their tax planning strategies. Properly carried out through the strategies of some unscrupulous financial advisers. To the point that they advise their clients to go to these parts of the globe where the tax burden is much lower. Or rather it is completely satisfactory to protect your financial interests.
On the other hand, the most common formula for applying this strategy are the so-called offshore companies. As well as that they allow the formal requirements to be constituted in a very few hours to have a better tax treatment from now on. And that they are operational from anywhere in the world, including of course Spain. It is a lot, or rather excessive, the money that goes to these platforms with the aim of pay much less money that up to now. In this sense, some information in the media points to great fortunes that have chosen this evasive strategy. With very relevant names that are on the lips of all readers.
Differences between these countries
In any case, there is no doubt that not all tax havens are the same. Not much less since there are substantial differences between them. To the point that they compete to attract a good part of the great capital from all over the world. Where some destinations that specialize in business taxation stand out for their special relevance, such as Jersey, Panama or Liberia. While on the contrary, there are others that provide models called mixed and whose main source of reference is an island such as Cayman. Although of course the list can be very long and somewhat boring readers because of its length.
Nor can banking havens be forgotten, as in the specific cases of Luxembourg or Switzerland, which are intended for different types of businesses or groups of people. Even if it is from places that are within the European Union, despite the denunciation by different social agents. On the other hand, that are ethically reprehensible, although a good part of its operations and transactions are legal from the beginning. In what has become one of the great debates in recent years. I owe it to the bad reputation that tax havens have right now.
What about Spanish companies?
Finally, one of the aspects that most interest Spanish taxpayers is the effect it has on companies listed on equity markets. Well, in this sense, and according to the Observatory of Corporate Responsibility, 86% of the 35 largest Spanish companies, which are listed in the national selective index, the Ibex 35, they have some type of subsidiary in tax havens. Something that they execute from their respective business strategies and that is a fact that is available to all taxpayers, although with the rejection of many of them. In any case, tax havens is one of the hottest topics on the lips of much of society. Beyond another series of social considerations.