A tax haven is a place with extremely low tax rates. The rationale is that rich people and businesses can choose where to pay tax, so they are attracted to places with the lowest tax rates. As a result, the tax havens receive tax income that would otherwise go to other countries. Tax havens are good for both taxpayers and for the people of the tax havens. To what extent do you agree or disagree?

I disagree that

tax

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havens

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are good for the taxpayers but I do agree it's good for the people who live in these

tax

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havens

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. In our modern capitalist society, most governments provide all the infrastructure and a lot of services for their citizens which requires

taxes

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to fund. Everything from road construction and maintenance to the legal system, government employees and healthcare, etc. All of

this

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is paid by

taxes

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and it's an integral part of how the world operates. When a company goes to a

tax

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haven, it is not only taking their

money

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out of the

country

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they are operating in, but

also

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maintaining a practice that damages competition. The

benefits

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of the

tax

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haven are good for the corporation itself to save

money

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, but that

money

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ends up sitting in an account in a foreign

country

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. The company is essentially using the

benefits

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provided by the

country

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in which they are established, reaping huge

benefits

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financially, and

then

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not offering to contribute by avoiding

taxes

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. For the people of the

tax

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haven, it's a good thing as it brings more job opportunities and more

money

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to the

country

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, improving the quality of life in the short term. But what happens is that

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policy of minimum

taxes

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is unsustainable and, when the

tax

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havens

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learn it the hard way, they will have to increase

taxes

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leading all the companies they attracted away, making it more likely for them to go into recession. In conclusion,

tax

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havens

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can be seen as a good solution in the short term, but I believe there are more

benefits

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for society and the economy as a whole when companies are not allowed to utilise and abuse

tax

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-

havens

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