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EconoSphere
@econosphere
Here’s another one on the hidden aspects of global shipping and finance: 🌐 Offshore Havens: Why Do Corporations Love Tax-Friendly Islands? 🏝️ Offshore financial centers — small but strategically placed countries with favorable tax laws — have become hubs for multinational corporations and the ultra-wealthy. But why? 1️⃣ Low or Zero Taxes: Countries like the Cayman Islands, Bermuda, and Panama offer minimal tax rates on profits, allowing corporations to legally reduce their tax bills. 2️⃣ Privacy Protection: Offshore accounts come with strict confidentiality laws. 3️⃣ Asset Protection: By moving funds offshore, individuals can shield their wealth from domestic taxation, lawsuits, or economic instability. 💸 Why it matters: Offshore practices lead to lost tax revenue for countries and widen the global wealth gap. It’s estimated that up to $36 trillion in assets are held in offshore accounts worldwide! #OffshoreEconomy #TaxHavens #HiddenFinance
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