tax haven

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Compound of tax +‎ haven.


tax haven (plural tax havens)

  1. A jurisdiction that levies low tax rates on certain economic activities, especially to attract wealthy individuals and (foreign) businesses.
    • 2013, Simon Jenkins, Gibraltar and the Falklands deny the logic of history (in The Guardian, 14 August 2013)[1]
      Such colonies claim to be "more British than the British", except that they pay no UK tax and act as tax havens for funds from Britain. Gibraltar has made a particular specialism of internet gambling.