Tag: succeed

Beverly Moran, Vanderbilt University Close your eyes and imagine a tax haven. Does a Caribbean island come to mind? Sand, surf and thousands of post office boxes housing shell corporations? Some tax havens, like the Cayman Islands or Bermuda, fit that description. Many others do not. The key to a tax haven is the taxes, not the tan. Any place that allows a taxpayer – whether an individual or a company – to get a lower tax bill overseas than at home is a tax haven. Thus, depending on the taxpayer’s jurisdiction and business, many places turn out to be tax havens, even the United States. A recent agreement by the Group of Seven wealthy nations seeks to eliminate corporate tax havens by imposing a global 15% minimum corporate tax rate. However, as a tax expert, I find the effort hard to t...