What are the world’s best tax havens? [DailyFinance (AOL.com)]
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Source: DailyFinance
What are the world’s best tax havens? Bermuda One of the most expensive countries to live in One company that used the country’s zero corporate tax rate to boost profits is Nike. The Paradise Papers reveal that from 2005 to 2014, Nike shifted large sums of money to Bermuda by opening a subsidiary called Nike International Ltd. The subsidiary did not appear to have a local office or employees, but “it charged large trademark loyalty fees to Nike’s European headquarters,” reports The Guardian. So, the company was able to move profits from Europe to Nike International Ltd in Bermuda, according to the report. Netherlands The most popular tax haven among the Fortune 500 is the Netherlands — also one of the cheapest countries for healthcare National governments often use tax incentives to lure businesses to invest in their country. However, tax incentives have often been found to be ineffective, inefficient and costly, according to a 2016 Oxfam policy paper that identified the top corporate
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