Tax Havens Don't Have Taxes. So How Do They Make Money? | Economics Explained

If tax havens can't raise money through taxes then what is in it for them?

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[TheTodarac]

Wow, I sit down to relax, get my coffee, sit back, only to be trolled by a 59 second video

[OmarJames]

Citizen of tax haven (Bermuda), here! People have every right to be upset at corporations dodging taxes in countries like ours, but I hope they understand that we don't hide anything. At least in Bermuda, we rigorously report on foreign entities and citizens with Bermudian bank accounts. Our monetary authority sends that information to organizations like the IRS. So their money isn't so much hidden, they just abuse loopholes in their home countries. Loopholes that could be closed at any time if their governments really wanted to

[BulistanTK]

“For the benefit of society”…
That’s a pretty optimistic way to describe how the government uses tax dollars…

[Seth-muwo]

I lived and owned a business in Panama for years. It's not what you think, and you absolutely do end up paying the country one way or another.

[bassahaulic]

A friend of mine just moved to Puerto Rico to avoid some capital gains on some investments. They had him buy a few licenses and such, and donate $10k to a charity to get his new business setup there.

[gbeehler]

One of the biggest tax havens out there, is in America. That place is Puerto Rico via their act 20 and act 22 legislation.

[manfredschultz]

“spent for the Betterment of Society”

LOL, good one.

[hypakritikal]

Been watching you for a while, loving the new short vids that are info packed feel like I learn a lot in a more bit sized way

[koitheawesome]

"For the betterment of society" is laughable.

[VictorMartinez-zfdt]

I’m mad I don’t have access to these tax havens. Or rather, I’m mad the government takes so much of my money to pay for things I don’t agree with.

[gelmibson]

"For the better of society" Yeah rrright. When I watch what my government does with the tax money. I can fully understand.

[Gabriel-ipme]

"For the betterment of society". Yeah, sure thing, man.

[maxpacius]

Ah yes the goverment make me pay 40% taxes for "the good of society"

[askjeremy]

Instead of politicians being mad about these "tax havens" perhaps they should be taking notes

[quinnrimmer]

“Otherwise would be used for the benefit of society” *laughs in libertarian*

[panamahub]

I live in Panama. Actually taxes are high for citizens and residents. Taxation is theft.

[mahoganydoughnut]

"Taxes" "betterment of society"
Choose one.

[aeronmarvelous]

I like the video, but I prefer the longer format videos for economics. 60 second videos are for dancing girls and funny stuff. Explaining economics takes longer than a minute.

[IKEMENOsakaman]

I always thought it was "tax heavens". I learned something today.

[Buceesfanmaarten]

People are just inherently jealous, tax havens are awesome.