Tag Archives | International Offshore Financial Centre (IOFC)

Should Offshore Financial Centres be Discouraged?

Get the answer of: Should Offshore Financial Centres be Discouraged. The views on tax havens as offshore financial centres are deeply divided. Those in favour argue that they play a legitimate role in international finance and trade. Its critics believe that they encourage illegal global tax evasion and endanger the world through illicit practices involving […]

Issues and Developments Relating to IOFC | International Taxation

In this article we will discuss about the issues and developments relating to IOFC. Issues Relating to IOFC: (a) Domestic Tax Base Erosion: Several high-taxed jurisdictions are concerned with the loss of tax revenues, which they believe should be due to them, from the use of offshore centres. For example: i. The source countries may […]

Top 20 Intermediary Entities in IOFC

The following points highlight the top twenty intermediary entities in International Offshore Financial Centre (IOFC). The intermediary entities are: 1. International Holding Company 2. International Finance Company 3. Licensing Routing Company 4. Offshore Trading Company 5. Group Administration Office 6. Employee Leasing Company 7. Offshore Banking Unit 8. Captive Insurance Company and Others. IOFC: Intermediary […]

List of 16 Major Base Havens with Offshore Financial Centres

Here is a list of sixteen major base havens with offshore financial centres. 1. Antigua & Barbuda: Antigua and Barbuda (“Antigua”) is located in the Northeast Caribbean Sea. Under its tax laws, a company is tax resident if it is incorporated under the 1995 Companies Act. Antigua levies corporate tax on resident companies at the […]

How to Choose an International Offshore Financial Centre?

The following article will guide you about how to choose an international offshore financial centre. Multinational businesses can effectively structure their worldwide operations as they wish. For example, it is conceivable to have an international group with: i. A production plant in Ireland or a tax-free zone in France, ii. An offshore financing company in […]

Offshore Financial Centres: Meaning and Types

In this article we will discuss about the meaning and types of off-shore financial centres. Meaning of Offshore Financial Centres: Offshore financial centres play a critical role in the international financial system. They provide finance, insurance, broking, holding-company and head-office services, and exist because the economic benefits outweigh their costs. In a global economy, there […]

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