Many Business owners decide to form an offshore formation to take advantage of lower tax rates which overseas jurisdictions offer.
(PRWEB UK) 23 April 2012
Offshore Formations 247 have provided a guide to Tax Havens and gone into some detail on what the definition of a tax haven is. With more businesses considering an offshore formation, the article touches on the current definition of a tax haven referring to quotes from industry experts. Many Business owners decide to form an offshore formation to take advantage of lower tax rates which overseas jurisdictions offer. Tax rates in overseas jurisdictions are typically lower than in the UK with some countries providing complete tax immunity for their offshore companies. The most popular tax havens include Anguilla, Belize, BVI, Dominica, Gibraltar, Nevis, Panama and Seychelles.
The majority of these offshore jurisdictions will offer incentives to investors in the form of little or no corporate taxes or personal taxes upon distributions to offshore companies that are owned and controlled and trade outside of that tax haven. Businesses will often use these companies as a shield to reduce higher rate (and sometimes basic rate) taxes in their own country of residence.
The article provides an interesting insight into the composition of what makes a tax haven and why this is an attractive feature for companies looking to expand their business.
Geoffrey Colin Powell (former economic adviser to Jersey) has a tax haven defined as “the existence of a composite tax structure established deliberately to take advantage of, and exploit, a worldwide demand for opportunities to engage in tax avoidance."
To read the article in full, visit the offshore formation page at Offshore Formations 247. As a leading formation agent, they have incorporated in excess of 100,000 companies in all the major jurisdictions across the globe and are fully in the know on all the tax havens that may be suitable for offshore formation. Their Highly professional team have an in-depth knowledge of each jurisdiction, including local legislation and tax laws. They will be able to provide advice on the benefits of each jurisdiction and have been successfully helping customers create and manage offshore incorporation for over 25 years
Offshore Formations 24.7 have representatives in all jurisdictions they cover which helps them to manage the process of offshore formation smoothly and also offers you full support through the offshore registration process.
For More Information visit http://www.offshoreformations247.com