Australia is a tax haven?!

[offshoreavatar]

Does anyone here know why Australia is listed as a tax haven on the EU Tax Haven list?
It's one of the craziest things I've ever seen! Must be something to do with compliance with the EU rather than tax rates?

 

[troubled soul]

au.finance.yahoo.com/news/australia-among-global-tax-havens-fuelling-inequality-200046848.html#:~:text=Australia%20has%20ranked%2048th%20in,significant%20quantities%20of%20illicit%20funds.

This will help

 

[offshoreavatar]

Thanks that does help.

It's really interesting. Because if you read further on the more detailed article for the Australian specifics it's a great example of how being able to afford clever? talented? lots of? tax specialists will give you a 3% or less tax rate in a 30% tax rate for the rest who can't afford that advice / structure etc.

It's worse in the US apparently!

Things are changing! US & Australia above Switzerland ec in Tax Haven rankings. I'm not old but I'm feeling old! lol

I didn't know any of this.

 

[troubled soul]

Rich thinks they pay too much and get nothing in return.

 

[offshoreavatar]

I think it's also a good example of how tax haven lists aren't as important as I (maybe most) others thought. Because if you start labelling US, Australia etc as tax havens then does it really matter for most people. Because most banks (just as an example of one component or challegnge with tax havens) aren't going to not deal with everyone from those countries! Or at least I highly doubt it.