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Are Tax Havens - And Will Governments Crack Down On Them? by David MacGregor
Every so often we read that governments are going to crack down on tax havens
and offshore bank accounts. The latest threats to do this have come in the wake
of the financial crisis and economic recession that began in 2008.However,
attacking offshore tax havens is not new. And it would appear that such attacks
by various politicians rarely amount to more than window dressing to placate the
masses and an attempt to divert blame for any economic woes from
themselves.Before answering the second question posed in the title of this
article, it would be a good idea to clarify exactly what a tax haven is.A tax
haven is a country which has little or no income tax. Some tax havens have zero
income taxes, while others may have very low taxes - or only tax local income
not worldwide income.To give a few examples: If you live in Ho
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