offshore income
Overseas financial gains
Offshore income is money earned or held in a foreign country, typically one with lower taxes or less regulatory oversight than the earner's home country.
The term often carries connotations of tax avoidance or secrecy: The investigation revealed millions in offshore income hidden in Swiss accounts.
While not inherently illegal, offshore income frequently appears in discussions of wealthy individuals and corporations minimizing tax obligations.
- tax havenZero-rate wealth jurisdiction
- Cayman IslandsCaribbean British overseas territory
- double taxationRevenue assessed twice
- BermudaNorth Atlantic island group
- PanamaIsthmus nation with waterway
Panama Papers · numbered account · foreign investment · shell company · shell corporation · transparency · tax treaty · tax loophole · Luxembourg · fairness · tax evasion · inequality · corporate responsibility · whistleblowing · Singapore · trust fund · compliance · wealth management
- expat taxesdouble taxation, tax treaty, foreign nationals, residency status, exit tax
- international taxdouble taxation, tax treaty, withholding tax, tax haven, tax havens