engleski

Financial oases in a globalised world

Attempts to minimize or even to avoid the payment of taxes are part of all business subjects irrespective of the fact whether they operate at home or the international market. At the international market, however, business subjects are provided with the opportunity to benefit from differences in tax system of various countries. The prevailing process of globalization, however, enables them to direct their activities towards those countries whose tax system permits the payment of as low taxes as possible. Taking into account the importance taxes have when business decisions are made, many countries have made use of the tax mechanism to realize competitive advantages and to attract business subjects. This has led to the creation of tax oases in the globalize world where taxes are paid barely or not at all. This paper discusses the most important characteristics of tax oases, pointing out the stand of the international public.

finance; taxes; business subjects; globalisation process

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