Tax Havens and Canadian Taxation Research Paper

revenue Havens and Canadian Taxation - Research Paper ExampleCountries with this kind of policies do so aiming to attract more than contrasted investors so as to boost their economy. Such nations are usually small nations with limited indwelling and industrial resources (Anderson, 2014).Without this regime that attracts foreign investors who come to boost their economy, the existence of such nations would be threatened. These offshore jurisdictions gull attracted many foreign investors in recent years who most of them are usually persons fleeing their countrys taxation systems so as to establish their investments in more favorable environments. Most countries do take their citizens to invest in tax harbours. In Canada, depositing funds in a foreign tax haven is leave behinded by the law. A Report on any income related to such accounts is the only requirement the regimen asks from these investors (Hale, 2012).Tax havens are mainly found in small countries and especially islan ds. As stated before the main feature of tax havens is a favorable tax policy and investment environment for foreign investors operations. However, there are other features that could help one identify tax havens.Bank secrecy is a serious and strict rule. Data and Information about account holders is only given to respective regimen only in cases of available evidence of major crimes like drug trafficking or terrorismAndorra, Bahamas, Bermuda, Hong Kong, the British Virgin Islands, Monaco, the Channel Islands, Belize, the Isle of Man, Lichtenstein, the Cayman Islands Panama, the Cook Islands, Switzerland, Mauritius, and St. Kitts and Nevis (Anderson, 2014). Pressure from foreign nations that feel the need and convey to collect all tax revenue they believe is entitled to them has forced tax havens to sign treaties that allow tax data exchange. They have also had to sign agreements that allow for the providence of investors