Tax Havens Explained

The world of tax havens is becoming an increasingly controversial area. So in this video, we run through what tax havens are, how they work and discuss why a country would even want to be a tax haven.

[keshavb]

If I had a business, I would love tax havens.

[tomdean]

When you’re done with Brexit - more videos on topics like this!!

[Grim_Beard]

5:37 "Leaving the EU would give the UK more flexibility to become a tax haven if it wanted to." Could you explain this? After all, three of the six countries listed as major tax havens at 2:19 in this video are EU member states. Clearly EU law isn't stopping member states from being tax havens, so how would leaving the EU enable the UK to become one?

[la]

Nice music choice but make it quiet and evenly spread throughout video maybe. So glad you are able to make the videos on a daily basis now!

[Torchman-]

This was a very well explained video. Thank you very much for clearly sifting through how tax is avoided.

[mkoasleep]

Thanks man was about to keep my trading headquarters in the uk but now it’s going to the Cayman island thanks bro you the best 👌🏾

[murrowboy]

How do the "Trust" work? I suppose since all your assets are under their name, this isn't exactly a family member or a best friend living in the Tax country but some kind of "Trust Bank"?

How does that work? What makes them not just take all your money if everything is under their name?

[omarmesbah]

I’m so glad you no longer use that irrelevant background music

[starlord]

It is easy to do here in Canada. Companies can be registered under a person ( trustee ) with a First Nation Status, " operating " that same company as the "CEO" from an Indian Reservation and the company's income become 100% tax exempt. Although the company cannot be Incorporated to do so.

[liamscott]

How do we stop tax havens?

Person 1:"Chage the tax laws"
Person 2: "close the loops"
Person 3: "lower taxis and allow for increased pool of businesses to exist thus bringing in more money"

Person 3 is thrown out

[joeschmo]

The American dream is to not be taxed at all. That's it.

[MaruskaStarshaya]

My country doesn't deserve my taxes because it does nothing to help or stimulate my business and my activity.

[pkw]

Useful video but this leaves the impression that major governments don't have anti-avoidance measures in place. Perhaps it might be informative to make a video analysing and explaining the UK's approach to this, i.e. rules on controlled foreign corporations, WHT on licence/royalty payments, the disclosure regime for tax avoidance schemes, Ramsay principle etc.

[RichGonzalezVerona]

Imagine how much more money countries with high taxes bring in if they reduce taxes and cut bureaucracy.

[AdityaKashi]

You seem to have conveniently left out the cozy relationship between the City of London and the British island possessions which are tax havens.

[misererenobis]

Well made and informative, thank you.

[_inthemoney]

You should have started the video with the statement that "it's not illegal".
It's not illegal. It's not illegal. It's not illegal.
Placing your money in countries that have lower tax is not illegal.

[emmajohnson]

Great video. My father used to work for Seagate, a big hard drive company. They were founded in the US and have a huge campus in California where all the executives work and do business, but their headquarters is in Ireland (either Ireland or Singapore, they move it a lot) just to avoid taxes. It's stupid they can get away with this

[Dremaus]

I dont really trust the government to actually spend the money very well :/ (cough cough massive debt)

[thorskjelver]

My how the mighty have fallen. It sees utterly insane for the country that once ran the world would stoop so low to become a tax haven.