cryptohunter
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Countries or regions known as tax havens, which can also be referred to as areas with low taxes or no taxes, are places where minimal taxes are imposed on individuals and companies from other countries. These havens offer appealing benefits like strict confidentiality in banking affairs and less stringent regulations for reporting, making it convenient for individuals to keep their assets hidden and evade tax payments. It is essential to understand that tax havens should not be confused with offshore jurisdictions used for tax planning purposes, as the former usually do not necessitate a substantial physical presence or significant business operations within their boundaries.