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A tax haven is a country or independent area where taxes are at a low rate or not levied at all.
There are 70 tax havens around the world with an estimated $11.5 trillion in deposits. The main areas are in the Caribbean or Europe.
For a comprehensive list, see www.answers.com/topic/tax-haven.
Current estimates are that there are 3 million registered shell companies in tax havens.
Other Terms used for Tax Havens
Offshore Financial Centre (OFC)
These low-tax, lightly regulated jurisdictions were designated as such in the 1980s. OFCs specialize in providing the …