Offshore Tax-Avoidance Schemes on The Rise Since Passage of Republican Tax Bill

Offshore Tax-Avoidance Schemes on The Rise Since Passage of Republican Tax Bill

Tax-avoidance schemes, that include creating offshore accounts in tax-free countries, are being offered to the wealthy like vacation packages. A screenshot of the TMS Group’s “International Business Company Packages” page shows several plans — called “The Indian Ocean,” “The Caribbean,” and “The Oasis” — being offered to businesses or individuals shopping around for the best place to open up an offshore account. Two of the packages promote setting up a company in one country, then creating a business address and offshore bank account in two more countries. Seychelles and Belize are offered as possible locations for the company set-up, while Malaysia is the chosen country for business addresses. The goal proposals of this nature is to allow third-party companies to profit off tax havens while staying in a legal grey area. There are a large number of companies offering to play the middle-man in a range of tax avoidance services, and the internet has allowed for a proliferation of these companies globally and the super wealthy happily use their services to hide their money and avoid paying taxes.
http://www.businessinsider.com/what-are-tax-avoidance-packages-2018-1
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