Top 10 Tax Havens Worldwide

Planning a holiday to the Caribbean? It’s no wonder: golden solar rays beaming down on you from a sheltering sky, turquoise water to cool you down, lush tropical foliage to securely envelop you, and a seemingly enviable lifestyle. Of course, all of this hides the fact that most of the Caribbean nations are tax havens, absorbing the wealth of a few corrupt and criminal foreign individuals while leaving their countries impoverished. Incredible but true. According to an IMF list, there are 26 nations in the Caribbean basin, 19 of which are tax havens, and those 19 represent a third of the world list with 60 countries considered tax havens. So what, you say? Tax havens are harmful in many ways. They deprive countries of much-needed revenue that could be used in social programs, education, health, infrastructure, etc., and could be used to shore up the balances of indebted nations, and, worst of all, tax havens, through their secrecy jurisdiction, give coverage to organized crime, international terrorism of all kinds, dictators and war lords, drug cartels and corrupt politicians, among nefarious others. An estimated (and jaw-dropping) $32 trillion sits in tax havens around the world avoiding tax while entire nations are gobbled up in debt that the ordinary citizen has to shoulder. Here are the top 10 tax havens worldwide.

More from Martian Herald