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taxmaven
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The answer TAXMAVEN has 2 possible clue(s) in existing crosswords.
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The word TAXMAVEN is NOT valid in any word game. (Sorry, you cannot play TAXMAVEN in Scrabble, Words With Friends etc)
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Definitions of taxmaven in various dictionaries:
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Possible Crossword Clues |
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Ace accountant |
Last Seen in these Crosswords & Puzzles |
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May 21 2017 The Washington Post |
May 21 2017 L.A. Times Daily |
Taxmaven might refer to |
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A tax haven is generally defined as a country or place with very low "effective" rates of taxation for foreigners ("headline" rates may be higher). In some traditional definitions, a tax haven also offers financial secrecy. However, while countries with high levels of secrecy but also high rates of taxation (e.g. the United States and Germany in the Financial Secrecy Index ("FSI") rankings), can feature in some tax haven lists, they are not universally considered as tax havens. In contrast, countries with lower levels of secrecy but also low "effective" rates of taxation (e.g. Ireland in the FSI rankings), appear in most § Tax haven lists. The consensus around effective tax rates has led academics to note that the term "tax haven" and "offshore financial centre" are almost synonymous.Traditional tax havens, like Jersey, are open about zero rates of taxation, but as a consequence have limited bilateral tax treaties. Modern corporate tax havens have non-zero "headline" rates of taxation and high levels of OECD-compliance, and thus have large networks of bilateral tax treaties. However, their base erosion and profit shifting ("BEPS") tools enable corporates to achieve "effective" tax rates closer to zero, not just in the haven but in all countries with which the haven has tax treaties; putting them on tax haven lists. According to modern studies, the § Top 10 tax havens include corporate-focused havens like Ireland, the Netherlands, Singapore, and the U.K., while Switzerland, Luxembourg, Hong Kong, and the Caribbean (the Caymans, Bermuda, and the British Virgin Islands), feature as both major traditional tax havens and major corporate tax havens. Corporate tax havens often serve as "conduits" to traditional tax havens.Use of tax havens, traditional and corporate, results in a loss of tax revenues to countries which are not tax havens. Estimates of total amounts of taxes avoided vary, but the most credible have a range of US$100–250 billion per annum. In addition, capital held in tax havens can permanently leave the tax base (base erosion). Estimates of capital held in tax havens also vary: the most credible estimates are between $7–10 trillion (up to 10% of global assets). The harm of traditional and corporate tax havens has been particularly noted in developing nations, where the tax revenues are needed to build infrastructure.At least 15% of countries are tax havens. Tax havens are mostly successful and well-governed economies, and being a haven has often brought prosperity. The top 10–15 GDP-per-capita countries, excluding oil and gas exporters, are tax havens. Because of § Inflated GDP-per-capita (due to accounting BEPS flows), havens are prone to over-leverage (international capital misprice the artificial debt-to-GDP). This can lead to severe credit cycles and/or property/banking crises when international capital flows are repriced. Ireland's Celtic Tiger, and the subsequent financial crisis in 2009–13, is an exampl... |