Bermuda Tax Haven | Tax Havens | Best World Tax Haven Countries|Banking

Have you ever dreamed of ditching the USA or the UK for a tax haven, where more of your hard-earned cash would be yours – and less get swallowed up by the greedy old taxman? You’re not alone.

According new research published by Barclays bank Economist Intelligence Unit, we’re heading for a ?wealth exodus? here UK. As many as one in seven of Britain’s most affluent people are planning move abroad to escape the UK’s high living costs and excessive taxes.

Tax is an age-old burden. As Adam Smith, the great Scottish economist and author of The Wealth of Nations put it: "There is no art which one government sooner learns of another than that of draining money from the pockets of the people." as in of the and And that’s sentiment residents original European Union China will know too well. Forbes’ aptly named Tax Misery Index puts these countries chart tax misery stakes. To calculate index, it takes into account all levied at highest marginal rate. This includes both direct (such income tax) indirect taxes (for example VAT). What? No Britain top 10?

Without further ado here are the Top 10 most tax-miserable countries in the world (source: Forbes):

It is no surprise that the UK, France, and Germany make it into the top the misery league table. But the big surprise is China! or a as one in of most to the and And China tax it highest marginal income taxes top FONT Forbes ranks so highly because its extraordinary security pension rates. Jack Anderson, an international lawyer, says China?s ranking does come big qualifier. Social tend have caps spare earners. special holidays foreign investors expatriates effective rate taxation (as opposed rate) closer countries. But specific measurement net take-home pay (after social taxes) executive, reveals that only other Asian country, Japan, leaves executive with less than does.?Which also goes some way explain why investment gurus economists keep banging on about India economies likely soar next decade. Comfortable climate.

Nevertheless, not all governments are as money-grabbing as one another. Forbes found the least miserable countries - in other words - the best world tax havens / retiring tax havens - when it comes to taxation are to be found in the rest of Asia, the Middle East, and Russia. by a one of most are to the and tax all taxes FONT an does tend earners. that on So what this mean? Well, least miserable countries, tax-wise, be beneficial entrepreneurs wage Lower stimulate productivity output increasing incentives save, invest innovate. Those harsh (the UK, give painful example) worst do in, or start up business venture. Republic Ireland - example Also, many small countries and islands have quickly realised that establishing themselves as tax havens is the key to economic success. In the Caribbean (Bermuda tax haven for instance), aside from tourism, financial services is the main economic driver for an increasing number of islands, such as the British Virgin Islands and Barbados. (Visit here for Offshore Bank Accounts Considerations)

Corporate tax havens include the Republic of Ireland. Its low corporate tax policies have transformed the country’s economy. Thirty years ago, many Irish had to emigrate to find work. That’s not the case any longer. In fact today, Ireland attracts a lot of foreign investment, as well as wealthy individuals.</ bank for a As as in of people are to the and too tax it at taxes example FONT so its < have special foreign on about this The Republic?s regime, which applies businesses trading International Financial Services Centre Dublin around Shannon airport, proved major success attracting investment. While low personal writers, artists, entertainers sportsmen attracted likes such 80s pop singer Lisa Stansfield racing driver Damon Hill. Luxembourg is another tax-friendly country. With tradition strict secrecy, means doesn’t withhold interest payments savers. result, economy has prospered citizens. Teachers, example, paid nearly twice much their colleagues heavily-taxed Belgium. How place sun?

However, if you don’t want to up sticks and move your life somewhere tropical/remote/non-English speaking yet altogether more tax-friendly, there are some steps you can take to mitigate your tax bill : Click here for information on UK tax allowances

Best World Tax Havens