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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebTax HavenDefinition: 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. Related Products: | ||||
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