Is the US tax friendly or is it a tax haven?

Super-rich Americans using US laws to create on-shore tax havenUS companies avoiding tax with on-shore shell companies

Only a couple of hundred US accounts have emerged as Mossack Fonseca clients in the Panama Papers leak. It’s not that Americans have a bigger sense of obligation towards paying taxes but because for many it’s easier to create a shell company in the US rather than overseas. A limited liability company (LLC) can be incorporated in every US state without disclosing its beneficiary. In fact in a Tax Justice Network 2015 ranking of tax havens, the US occupies the number three slot, behind only Switzerland and Hong Kong. Read more…

Share this article:
Share on Facebook0Share on Google+0Tweet about this on Twitter0Share on LinkedIn0Email this to someone

Comments are closed.