nessie000  +  693689 Thu, 02 Apr 09 07:04 PM Hi, I'm reading about the G20 summit on the Financial Times, and they said that France and Germany wanted better financial regulations and tax havens, but I can't understand that very well. What is 'tax haven'? The French president said tax havens were evidence of "capitalism without a conscience". Many thanks, Nessie. nessie000 Joined on Thu, Dec 4 2008 Full Member 200 Countries, France, Languages

	Avangi  +  693694 Thu, 02 Apr 09 07:19 PM I doubt they want better tax havens!  They more likely want to regulate them more closely, or eliminate them. The synonym is "tax shelter."  People who have money, and their lawyers, study the tax laws to find ways to avoid paying taxes.  Many hide their assets offshore, or in Swiss banks.  There are certain types of investments which are tax free, or which provide substantial "tax breaks." Now that budgets are tight, we want to blame the rich and close the "tax loopholes." Avangi Joined on Mon, Nov 19 2007 Veteran Member 8,197 ". . . le plaisir delicieux et toujours nouveau d'une occupation inutile." - Henri de Regnier Synonyms