Offshore Banking terms starting with T

4 terms

1. Tax Benefit Includes deductions, exclusions from gross income, nonrecognition of gain, tax credits, adjustments (or the absence of adjustments) to the basis of…
2. Tax Haven A tax haven is a country, which provides a no-tax or low-tax environment. The U.S. is considered a tax haven by some countries.
3. Tax Shelter Is a partnership or other entity, any investment plan or arrangement, or any other plan or arrangement, if a significant purpose of the partnership…
4. transaction Includes any series of related steps carried out as part of a prearranged plan.