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tax haven

 

Definitions from WordNet

Noun tax haven has 1 sense
  1. tax haven - a country or independent region where taxes are low
    --1 is a kind of
    country, state, land

Definitions from the Web

Tax Haven


Definition: A tax haven refers to a country or jurisdiction that offers favorable tax regulations and incentives to individuals and businesses. These jurisdictions typically have low or no income tax, minimal reporting requirements, and strict financial privacy laws.


Sense 1: Popular

Part of Speech: Noun

Meaning: A tax haven is a sought-after destination for individuals and companies looking to minimize their tax liabilities legally. These jurisdictions attract offshore banking, investment, and asset management due to their tax-efficient systems.

Sample Sentence: Many wealthy individuals establish offshore companies in tax havens like the Cayman Islands to legally reduce their tax burden.


Sense 2: Local

Part of Speech: Noun

Meaning: In local contexts, a tax haven can also refer to a specific area within a country that offers preferential tax treatment compared to other regions. These regions are used to attract businesses and stimulate economic growth.

Sample Sentence: The newly developed industrial park in the city is considered a tax haven, offering significant tax breaks and incentives to companies that establish their operations there.


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