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What are some tax havens?

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Quick Answer

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.

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Full Answer

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.

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