The Cayman Islands, Hong Kong, Ireland, Luxembourg, the Netherlands and Singapore are some of the most common tax havens. Tax havens are countries or territories where taxes are levied at a low rate, which allows companies and corporations to save significant amounts of money.
Ireland is a particularly popular tax haven for many corporations. For example, as of 2013, Apple held $111.3 billion through its three tax subsidiaries in Ireland, which saved the company $36.4 billion in taxes that it would otherwise have had to pay in the United States. Similarly, Microsoft subsidiaries in Ireland, Luxembourg and Singapore saved the company $24.4 billion in U.S. taxes as of 2013.