Tax Havens - The "Black Hole" of the International Finance

Abstract

Tax evasion is a high interest topic, frequently approached both now and in the past because itis a very common phenomenon in all countries (either developed or emerging) and is particularlyimportant. Tax evasion determines the occurrenceof aset of creative accounting practices used inthe context of what is considered to be right and what goes beyond the ethical limits. The article presents, in general, tax evasion both theoretically and practically, examines thevarious ways in which evasion is interpreted by the laws and regulations adopted in the fiscalfield,the ways that lead businessmen to perform and fraudulently register operations. Also, we aimat characterising thestates that help the economic operators and the individuals, by means of taxhavens and implicitly offshore companies, in order to avoid the payment of certain taxes that arehigher than in the home country.

Keywords

• tax haven
• tax system
• foreign capital