tax haven

noun

: a place where people go to live and companies go to operate in order to avoid paying high taxes

Examples of tax haven in a Sentence

Recent Examples on the Web The reincarnated Gomba was incorporated in the offshore tax haven of Jersey, and its offices were on London’s Park Lane. Patrick Radden Keefe, The New Yorker, 5 Feb. 2024 Only a few posh towns, along with the perpetual tax haven of Monaco, now recall the region’s luxurious heyday. Jonathan Miles, Foreign Affairs, 12 Dec. 2023 The foreign subsidiary reaps huge profits that would normally show up on Microsoft’s profit ledger in the U.S. or U.K., but that instead show up in the tax haven and are thus taxed at a very low rate. Alana Semuels, TIME, 23 Oct. 2023 In a separate investigation, which is ongoing, Spanish state prosecutors have charged Shakira with evading 6.7 million euros (about $7.3 million) in tax on her 2018 income, via an offshore company in a tax haven. Jazz Monroe, Pitchfork, 20 Nov. 2023 By our reckoning, corporations shifted nearly $1 trillion in profits earned outside of their home countries to tax havens in 2019, up from $616 billion in 2015, the year before the global tax haven plan was implemented by the group of 20 leading economies, also known as the G-20. Byludvig Wier, Fortune, 27 Feb. 2023 And while the Cayman Islands still might be a tax haven in that regard, there’s very little crime there. Brian Davids, The Hollywood Reporter, 3 Sep. 2019 Shakira is alleged to have used an offshore company based in a tax haven to avoid paying the tax, Barcelona prosecutors said in a statement. Compiled By Democrat-Gazette Staff From Wire Reports, Arkansas Online, 27 Sep. 2023 Barcelona prosecutors have accused the pop star of using an offshore company located in a tax haven to avoid paying the tax, according to the Associated Press. Charisma Madarang, Rolling Stone, 26 Sep. 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'tax haven.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

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Cite this Entry

“Tax haven.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/tax%20haven. Accessed 22 Feb. 2024.

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