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You're reading: Tax pressure on offshore zones: who will benefit?

There is a number of jurisdictions that attract foreign capital flows from both developed countries with sophisticated tax systems and emerging markets where corrupt elites try to relocate financial assets to safe places.

The result is a shift of the tax burden and lost tax revenues for many governments which follow too fiscal approach to business and lack strategic thinking as regards tailoring the tax systems of their countries.

Ukraine is a good example of a country where business historically used tax havens for both dodging taxes and saving their assets from corporate abuse an crime.

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