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38 Identify the reason why tax havens are used to launder money. Agreements with other nations in regards to money laundering activities are generally ignored.
38 Identify the reason why tax havens are used to launder money. Agreements with other nations in regards to money laundering activities are generally ignored. Tax havens generally have bank secrecy laws that prevent external governments from obtaining financial information about transactions or account holders within the tax haven. Tax evasion is never considered a money laundering offence in tax havens. There is no income tax payable in tax havens
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