Offshore are known worldwide for their flexible terms of business taxation. In these zones, is particularly effective to register a company with multi-million dollar income which, because of the specific local legislation, will be deducted a minimum tax, or did not deducts. Simply put, if you buy offshore (or register independently, it will be just longer in time), after a few months or years, the cost of transaction will return to You, and the income will “drip” without deduction of tax.
For many years businessmen around the world have used tax havens to minimize losses, but the scandal with “the Panamanian documents” changed some rules. We will remind, on April was provided a confidential information about major financial savings in the offshore of all-powerful people in the world. This is the most high-profile case in the history of contemporary journalism, called “the Panamanian documents”.
In particular, the published paper also affect our country, covering the financial results of such persons as:
- Petro Poroshenko, President of Ukraine;
- Pavel Lazarenko, the former Prime Minister;
- Gennady Trukhanov, mayor of Odessa;
- Valeria Gontareva, head of the national Bank, which has already resigned;
- Mohammad Zahoor, owner of the newspaper “Kyiv Post”, the British businessman who lives and does business in Ukraine.
The consequences of the scandal: the rating of the offshores
Despite all, announcement information reveals only a portion of the concealment global business. The global community has made the top-10 tax havens, which control more than half the market of offshore financial services.
On the top of the rankings reigns Switzerland. Most of the businessmen around the world want to buy offshore in Switzerland, that is why the state controls 51% of foreign assets. Not so far proved to be the United States of America with its share at 19.6%. 7-th position takes Lebanon, whose Banking assets is four times the country’s GDP.