The end of tax havens?

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JackAlabama

Entrepreneur
Interesting. I know the following products that come from these two countries:
- soy and moderate quality beef
- various curry sauces and basmati rice
Hot summer special free advice:

just enter in google: "india is leading producer of pharma products"

and google will answer with:

India is the third largest producer of pharmaceuticals in the world by volume. The country's Department of Pharmaceuticals reported that it supplies 20% of global exports of “generic” drugs.
 
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RealDude

Entrepreneur
Hot summer special free advice:

just enter in google: "india is leading producer of pharma products"

and google will answer with:

India is the third largest producer of pharmaceuticals in the world by volume. The country's Department of Pharmaceuticals reported that it supplies 20% of global exports of “generic” drugs.
But they are just the cheap workbench for the West, aren't they?
The patents and formulas come from other brains than Indian?
 

Frank Funk

New member
But they are just the cheap workbench for the West, aren't they?
The patents and formulas come from other brains than Indian?
From what I saw a bigger chunk of Indian brains are staying or returning home, forming start ups etc. It is a trend that will continue.
But all those EM's (including China and Russia) are still a good chunk behind the West - not to say they cannot do some (economic) damage.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
So your theory is basically that with BRICS we may see the classical offshore system come back since the small tax havens could use BRICS as oppossed to SWIFT thus the OECD and US losing basically all its leverage... so now we are in a unsustainable transitionary period where they attempt to crack down on all havens but we will eventually see this system collapse due to the emergence of a multipolar world? China/Russia will be incentivized to allow these havens as a way of further trying to hurt the west perhaps through erosion of their tax base?

Exactly your spot on.

So we have Iran and Argentina officially applied to join BRICS. Then we got Saudi Arabia, Turkey, Egypt and Venezuela also looking to join. Currently BRICS have 40% of world population and and nearly a quarter of world GDP. Those new countries will only add to it. When you consider by 2050 Saudi Arabia, Iran, Turkey and Egypt are predicted to be in top 20 highest GDP countries according to PWC, it does show how the world is shifting ;). That is a lot of energy producers within BRICS sphere. Then you consider Africa as a block and the remaining Gulf States following the Saudi lead it makes for an interesting situation for U.S to be in.

The tax havens will remain long term as incentives are always welcome. The U.S is just chasing the clock on this one.
 

Golden Fleece

Entrepreneur
But they are just the cheap workbench for the West, aren't they?
The patents and formulas come from other brains than Indian?
Yes, when I ordered ivermectin and hydroxychloroquine from India, because most doctors in the U.S. would not prescribe them for COVID-19, I already knew that India was a pharmaceutical powerhouse (to the degree that antibiotics and other drugs are far too often overused and abused in India), I also discovered that almost all of the production is through licensing from the U.S. and other Western nations. However, that does not necessarily mean that India does not profit nicely from being an international drug manufacturing hub.
 

Golden Fleece

Entrepreneur

CoinMaster

Mentor Group Gold
It's all about why cryptocurrency came into play long time ago. Some people knew tax havens will come to what they are. Alternatives were required.
 

Cocopops

New member
I think they want to destroy the small rich (people between 1M and 5M I would say) for example it is way more complicated to become a panamean citizen, in europe it also way more complicated to make money because of new tax rules so yes tax heaven will probably continue to exist but it will become harder and harder to be in one of them, good luck guys to stay in the 1% the war has begun :)
 

lostguy

Mentor Group Gold
they try hard but it won't be the future, after all we have crypto.
 

JackAlabama

Entrepreneur
I think they want to destroy the small rich (people between 1M and 5M I would say) for example it is way more complicated to become a panamean citizen, in europe it also way more complicated to make money because of new tax rules so yes tax heaven will probably continue to exist but it will become harder and harder to be in one of them, good luck guys to stay in the 1% the war has begun :)
You need at minimum 50M to not be a small rich any more.
5M is more like upper middle class.

Panama is on the way out anyway with their latest protest and empty supermarkets, anyone who connect the dots left that place already.
Also their insane covid handling was not smart and killed the real estate market which is still down today.
It was going downhill fast after the latest election.

It's all about why cryptocurrency came into play long time ago. Some people knew tax havens will come to what they are. Alternatives were required.
Bitcoin fulfills the need for a global bearer asset which can be used across the newly formed blocks.
Its fitted for a digital world whereas Gold was fitted for an analog world.
 

Hyo

New member
Hot summer special free advice:

just enter in google: "india is leading producer of pharma products"

and google will answer with:

India is the third largest producer of pharmaceuticals in the world by volume. The country's Department of Pharmaceuticals reported that it supplies 20% of global exports of “generic” drugs.
let’s keep it low profile. You are looking at the right things I may say.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Doesn’t withhold you from posting screenshots

lol....come on now. I guess he paid and does not want to share.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Ok guys please stick to thread topic. If you want to say something off wildly topic then start a new thread thu&¤#. You are free to create new threads instead of piggy backing on this thread otherwise the post will be deleted and you would have wasted your breath.
 

JackAlabama

Entrepreneur
Ok guys please stick to thread topic. If you want to say something off wildly topic then start a new thread thu&¤#. You are free to create new threads instead of piggy backing on this thread otherwise the post will be deleted and you would have wasted your breath.
Circle back to the main topic.

Tax heavens will not end but will look vastly different in the nearer future due to increasing violent geopolitical changes. Some might even close for certain passport holders.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Tax heavens will not end but will look vastly different in the nearer future due to increasing violent geopolitical changes. Some might even close for certain passport holders.

I can see this happening. The geopolitical changes are not going away and tax havens have a good chance of benefiting if they play the game right. I can see certain CBI countries feeling the pinch at some point with their passport access.
 
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