Tax heaven in the contemporary world

Abstract

The place of tax havens in the contemporary economy is highly controversial. Some authors, or some institutions, support and provide statistical evidence to show that tax optimization or tax evasion through these companies is detrimental to the world economy. Other authors, as well as other institutions, on the contrary, are supporters of tax havens, arguing that tax optimization through them, accelerates the pace of international economic development. Of course, it is a fact that favorable and flexible taxation, relaxing legislation and banking secrecy are relevant motivations for attracting individuals and legal entities who want to use the services of these offshore financial centers. The study carried out by the author set itself the task of addressing the issue of the activity of tax havens, thereby contributing to the formation of reasoned opinions as a consequence of the research conducted. CZU: 336.227.2(100); JEL: M 16, H 26, O 16.