Abstract
The tax havens in the world have become the global phenomenon related tax avoidance, tax fraud and evasion and money laundering. The aim of the paper is to analyze their scope and to assess economic and social consequences of their existence in the world society, world economy, international and national tax systems. Many analyzes of the current situation and reported cases show that tax havens are threatening the stable development of the world economy, causing negative consequences of the economic, social, security and humanitarian nature of the global scale. Combating tax avoidance, tax fraud and evasion through tax havens must be stronger and more effective all around the world.
Highlights
Globalization significantly affects all ongoing processes in the world economy, while its positive and negative consequences can be observed throughout society
Piketty [1] has analyzed the current problems of the world economy, examining the causes of inequality, and his former doctoral student Gabriel Zucman [2] has focused on tax havens in the world
There is no big difference between them. This depends on the specific jurisdiction, as the concepts of tax evasion and tax avoidance are distinguished in tax legislation and criminal law
Summary
Globalization significantly affects all ongoing processes in the world economy, while its positive and negative consequences can be observed throughout society. Tax savings may or may not mean tax evasion. There is no big difference between them This depends on the specific jurisdiction, as the concepts of tax evasion and tax avoidance are distinguished in tax legislation and criminal law. Krištofík [3] states that tax savings are among the most common motives for using tax havens, while he further states that the category of taxes (international tax planning and international tax optimization) is often examined from multiple points of view and according to different criteria. Other factors that encourage tax evasion may include excessive tax burden, lack of honesty in the government, perceived unfairness, tax authorities’ poor institutional infrastructure and responses, financial benefits of evading taxes, perceptions of inequality, low level of trust in tax authorities, perceived poor use of tax revenues, poor treatment of taxpayers, corruption in government, increase in banks’ offshore activities with non-financial companies connected to banks, etc
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