Global Crackdown on Tax Havens Threatens Multinational Companies' Strategies
Low-tax jurisdictions have been important for tax planning by multinational companies, but global trends are changing this. The article defines low-tax jurisdictions, explains their development, and analyzes types of companies in these jurisdictions. It also discusses measures to prevent illegal financial activities. The use of low-tax jurisdictions can violate tax principles and reduce budget revenues for high-tax countries. To address this, international efforts are increasing transparency in tax information and financial transactions.