GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A country which gives tax exemptions to the foreign citizens that there will be no tax on investing the money in their country.
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Subsidy given by the government in taxes
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Tax evasion in the domestic country
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To impose equal taxes on domestic producers and foreign producers
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Detailed explanation-1: -A tax haven, or offshore financial center, is any country or jurisdiction that offers minimal tax liability to foreign individuals and businesses. Tax havens do not require businesses to operate out of their country or the individuals to reside in their country to receive tax benefits.
Detailed explanation-2: -Tax-free countries generally have income sources from trade, tourism and money from international businesses.
Detailed explanation-3: -A low-cost jurisdiction. Investing in a low-cost jurisdiction like Switzerland allows individuals and corporations from all over the world to legally reduce tax responsibilities. Swiss banking is highly regarded around the world, revered for its sophisticated and discreet banking services.