| AS per new study sponsored by Global Unions, an international trade
union forum in Belgium, Bermuda has been shortlisted as one of the several tax
havens that offer financial services to non-residents for low tax rates and
secrecy. The report has reportedly stated that thanks to the low rate, Google
has saved USD 3.1 bn in taxed between 2007 to 2009.
Bermuda has been clubbed with many other offshore tax centres like
Bahamas, Cayman Islands, Cook Islands and Amguilla as jurisdictions which charge
MNCs only licence fees toi operate. The Study also provides a peep into the
history of evolution of modern 'tax haven'.
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