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What is Tax Haven?

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What is Tax Haven?

A country is usually an offshore country that gives foreign individuals and businesses little or no liabilities during a politically and economically static environment. Tax havens also share limited or no financial information with foreign tax authorities. Tax havens don’t typically require residency or business presence for people and businesses to profit from their tax policies. In some cases, international locations can also be identified as tax havens if they need special tax laws. For instance, within the US, Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming require no state tax.

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