
Top Tax Havens
Bermuda
This tiny island country has a lot going for it and has long been attracting foreign investors, for good reason. For one thing, it’s located conveniently in the middle of the Atlantic, making it readily accessible to North Americans and Europeans alike.
A number of Fortune 500 companies actually operate subsidiaries there because the country does not have any corporate income tax. In America, for example, corporations need to pay 35%.
In 2010, foreign companies paid an average of just 8% of their profits in taxes. For American companies, this meant they walked away with around $94 billion, while Bermuda itself only reported $6 billion in GDP. This is why foreign profits amounted to 1643% of their entire economic output.
The Cayman Islands
No conversation about tax havens around th...