Concluding remarks to chapter 2 Sample Clauses

Concluding remarks to chapter 2. The mentioned exemptions as well as the freedoms granted to IBCs provide the tax authorities in tax ▇▇▇▇▇▇ with a narrow base from which they can collect information. It is likely that tax authorities in tax ▇▇▇▇▇▇ are unable to provide information on matters that the companies face no obligation to collect or preserve. This enables corporations to minimize the tax base for the corporation as a whole, often by using illegal techniques, without tax authorities in other jurisdictions being able to stop this. In addition, the legislation of IBCs provides corporations with the opportunity to evade tax in a non-haven jurisdiction by claiming to be resident in a tax haven despite of being located and / or managed from somewhere else. The secrecy feature of tax ▇▇▇▇▇▇ facilitates that individuals can evade taxes while running a low risk on getting caught by the jurisdiction in which the taxes are due. The opportunity to establish trusts and protected cell companies provides another way for individuals and corporations to evade taxes as well as escape claims from affected third parties. It is in the opinion of this thesis important to curb all these structures in order to make the battle against tax ▇▇▇▇▇▇ through information exchange a successful one. To what extent the OECD Agreement on Exchange of Information on Tax Matters is successful in doing this will be assessed in the next part of the thesis.