{"id":11441,"date":"2022-08-02T19:26:15","date_gmt":"2022-08-02T23:26:15","guid":{"rendered":"https:\/\/trendingsimple.com\/bermuda-tax-shelter-works\/"},"modified":"2022-08-02T19:26:15","modified_gmt":"2022-08-02T23:26:15","slug":"bermuda-tax-shelter-works","status":"publish","type":"post","link":"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/","title":{"rendered":"How bermuda tax shelter works"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 ez-toc-wrap-center counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#it-uses-bermuda-as-a-tax-haven-it-would-have-paid-36-billion-for-taxes-if-tax-haven-benefits-were-not-used-this-implies-nike-pays-a-mere-14-tax-rate-to-foreign-governments-on-those-offshore-profits-indicating-that-nearly-all-of-the-money-is-officially-held-by-subsidiaries-in-tax-havens\" title=\"It uses Bermuda as a tax haven. It would have paid $3.6 billion for taxes if tax haven benefits were not used. This implies Nike pays a mere 1.4&#037; tax rate to foreign governments on those offshore profits, indicating that nearly all of the money is officially held by subsidiaries in tax havens.\">It uses Bermuda as a tax haven. It would have paid $3.6 billion for taxes if tax haven benefits were not used. This implies Nike pays a mere 1.4&#37; tax rate to foreign governments on those offshore profits, indicating that nearly all of the money is officially held by subsidiaries in tax havens.<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-does-bermuda-tax-haven-work\" title=\"How does Bermuda tax haven work?\">How does Bermuda tax haven work?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-does-a-tax-shelter-work\" title=\"How does a tax shelter work?\">How does a tax shelter work?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-much-money-can-you-tax-shelter\" title=\"How much money can you tax shelter?\">How much money can you tax shelter?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-do-tax-haven-countries-make-money\" title=\"How do tax haven countries make money?\">How do tax haven countries make money?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#where-can-i-move-to-avoid-taxes\" title=\"Where can I move to avoid taxes?\">Where can I move to avoid taxes?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#which-country-is-tax-free-in-world\" title=\"Which country is tax free in world?\">Which country is tax free in world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-do-expats-avoid-taxes\" title=\"How do expats avoid taxes?\">How do expats avoid taxes?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#is-dubai-really-tax-free\" title=\"Is Dubai really tax free?\">Is Dubai really tax free?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#who-pays-more-tax-uk-or-usa\" title=\"Who pays more tax UK or USA?\">Who pays more tax UK or USA?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#which-country-pays-the-lowest-rate-of-tax-in-europe\" title=\"Which country pays the lowest rate of tax in Europe?\">Which country pays the lowest rate of tax in Europe?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#who-pays-more-taxes-canada-or-us\" title=\"Who pays more taxes Canada or US?\">Who pays more taxes Canada or US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#is-it-cheaper-to-live-in-canada-or-the-us\" title=\"Is it cheaper to live in Canada or the US?\">Is it cheaper to live in Canada or the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#is-it-better-to-move-to-canada-or-usa\" title=\"Is it better to move to Canada or USA?\">Is it better to move to Canada or USA?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#is-it-better-to-live-in-canada-or-the-us\" title=\"Is it better to live in Canada or the US?\">Is it better to live in Canada or the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#where-is-the-best-place-to-live-in-the-world\" title=\"Where is the best place to live in the world?\">Where is the best place to live in the world?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#can-i-be-dual-citizen-of-us-and-canada\" title=\"Can I be dual citizen of US and Canada?\">Can I be dual citizen of US and Canada?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#do-i-lose-my-us-citizenship-if-i-become-canadian\" title=\"Do I lose my U.S. citizenship if I become Canadian?\">Do I lose my U.S. citizenship if I become Canadian?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#can-you-have-3-citizenships\" title=\"Can you have 3 citizenships?\">Can you have 3 citizenships?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#can-you-lose-us-citizenship\" title=\"Can you lose U.S. citizenship?\">Can you lose U.S. citizenship?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-long-can-a-us-citizen-stay-outside-the-us\" title=\"How long can a U.S. citizen stay outside the US?\">How long can a U.S. citizen stay outside the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#do-i-have-to-pay-taxes-if-i-live-outside-the-us\" title=\"Do I have to pay taxes if I live outside the US?\">Do I have to pay taxes if I live outside the US?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#what-happens-if-you-stay-outside-the-us-longer-than-6-months\" title=\"What happens if you stay outside the US longer than 6 months?\">What happens if you stay outside the US longer than 6 months?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#how-long-can-a-us-citizen-stay-out-of-the-country-2021\" title=\"How long can a U.S. citizen stay out of the country 2021?\">How long can a U.S. citizen stay out of the country 2021?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#when-can-i-return-to-the-us-after-6-months-stay\" title=\"When can I return to the US after 6 months stay?\">When can I return to the US after 6 months stay?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/#can-i-apply-for-us-citizenship-while-abroad\" title=\"Can I apply for U.S. citizenship while abroad?\">Can I apply for U.S. citizenship while abroad?<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"it-uses-bermuda-as-a-tax-haven-it-would-have-paid-36-billion-for-taxes-if-tax-haven-benefits-were-not-used-this-implies-nike-pays-a-mere-14-tax-rate-to-foreign-governments-on-those-offshore-profits-indicating-that-nearly-all-of-the-money-is-officially-held-by-subsidiaries-in-tax-havens\"><\/span>It uses Bermuda as a tax haven. It would have paid $3.6 billion for taxes if tax haven benefits were not used. This implies Nike pays a mere 1.4&#37; tax rate to foreign governments on those offshore profits, indicating that nearly all of the money is officially held by subsidiaries in tax havens.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"how-does-bermuda-tax-haven-work\"><\/span>How does Bermuda tax haven work?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bermuda is considered a tax haven; however, Bermuda does levy a number of taxes, such as a payroll tax on employers and land taxes. There is no corporate income tax in Bermuda, and a company is considered a tax resident of Bermuda if it is incorporated in the country.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-does-a-tax-shelter-work\"><\/span>How does a tax shelter work?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>What is a tax shelter? Tax shelters are ways individuals and corporations reduce their tax liability. Shelters range from employer-sponsored 401(k) programs to overseas bank accounts. The phrase \u201ctax shelter\u201d is often used as a pejorative term, but a tax shelter can be a legal way to reduce tax liabilities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-much-money-can-you-tax-shelter\"><\/span>How much money can you tax shelter?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Single policyholders can contribute and deduct up to $3,650. In either case, workers age 55 and older can deposit an additional $1,000 in catch-up contributions. You&#39;ll need an eligible high-deductible health insurance plan to contribute to an HSA.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-do-tax-haven-countries-make-money\"><\/span>How do tax haven countries make money?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Duties &#038; Customs: A tax-free government can generate revenue by imposing tariffs on imported goods, and it is the easiest and most effective way of doing so. Indirect taxes imposed on commodities brought into the country are known as import duties or customs duties.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-can-i-move-to-avoid-taxes\"><\/span>Where can I move to avoid taxes?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Some of the most popular countries that offer the financial benefit of having no income tax are Bermuda, Monaco, the Bahamas, and the United Arab Emirates (UAE).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"which-country-is-tax-free-in-world\"><\/span>Which country is tax free in world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bahamas doesn&#39;t charge any income tax to its residents. Endowed with breathtaking beaches and a fast grwoing economy, Bahamas is one of the most livable nations in the world. The no income tax policy is the cherry on the cake.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-do-expats-avoid-taxes\"><\/span>How do expats avoid taxes?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>How to Legally Reduce Your Taxes to ZERO as an American Expat<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-dubai-really-tax-free\"><\/span>Is Dubai really tax free?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Apart from the high quality of life, the foremost reason for such enthusiasm for Dubai is the fact that Dubai is a tax-free nation. There is no income tax on income generated in Dubai. Also, there is no sales tax on the majority of goods and services.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"who-pays-more-tax-uk-or-usa\"><\/span>Who pays more tax UK or USA?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>US taxes vs UK taxes. In absolute terms, you pay less income tax in the US. The highest rate of income tax in the US is 37&#37; if you earn over $523k. In the UK, it&#39;s 45&#37; if you earn over \u00a3150k.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"which-country-pays-the-lowest-rate-of-tax-in-europe\"><\/span>Which country pays the lowest rate of tax in Europe?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bulgaria<\/p>\n<h3><span class=\"ez-toc-section\" id=\"who-pays-more-taxes-canada-or-us\"><\/span>Who pays more taxes Canada or US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>While the United States is much larger than its northern neighbor in terms of GDP, the average income per capita is similar in both places. While people generally pay more in taxes in the United States, Canada offers superior social benefits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-it-cheaper-to-live-in-canada-or-the-us\"><\/span>Is it cheaper to live in Canada or the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On average, it&#39;s more expensive to live in the US than to live in Canada. But median incomes are higher in the US than up North and the cost of living varies widely between different regions of each country \u2014 there&#39;s a lot more to this cost of living debate than you might think.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-it-better-to-move-to-canada-or-usa\"><\/span>Is it better to move to Canada or USA?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Overall, foreigners choose Canada because it is simpler to immigrate than the US. The country has more immigration pathway options, an online immigration system that prevents discrimination, it takes less time to process your application, and so much more!Apr 28, 2022<\/p>\n<h3><span class=\"ez-toc-section\" id=\"is-it-better-to-live-in-canada-or-the-us\"><\/span>Is it better to live in Canada or the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Canada scored an average of 7.6 on the Average Life Satisfaction Ranking scale, whereas the USA&#39;s ranking is 7. Canada ranked in the top ten most peaceful countries, and the US ranked 121st overall.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"where-is-the-best-place-to-live-in-the-world\"><\/span>Where is the best place to live in the world?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Canada. #1 in Quality of Life. #1 in Best Countries Overall. <br \/> Denmark. #2 in Quality of Life. #12 in Best Countries Overall. <br \/> Sweden. #3 in Quality of Life. <br \/> Norway. #4 in Quality of Life. <br \/> Switzerland. #5 in Quality of Life. <br \/> Australia. #6 in Quality of Life. <br \/> Netherlands. #7 in Quality of Life. <br \/> Finland. #8 in Quality of Life.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"can-i-be-dual-citizen-of-us-and-canada\"><\/span>Can I be dual citizen of US and Canada?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If more than one country recognizes you as a citizen, you have dual citizenship. You don&#39;t apply for dual citizenship, and there is no related certificate. Canadians are allowed to take foreign citizenship while keeping their Canadian citizenship.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"do-i-lose-my-us-citizenship-if-i-become-canadian\"><\/span>Do I lose my U.S. citizenship if I become Canadian?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A Canadian will not lose their citizenship if they take on another nationality or nationalities. If they are naturalized as a citizen, they will retain their original citizenship in addition to their Canadian citizenship, provided that the other country also allows dual citizenship.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"can-you-have-3-citizenships\"><\/span>Can you have 3 citizenships?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Can you have triple citizenship? Yes, you may hold citizenship in three countries. The same rules apply as for dual citizenship \u2014 not every country allows for multiple citizenships, so you would need to check whether your country of origin permits triple citizenship.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"can-you-lose-us-citizenship\"><\/span>Can you lose U.S. citizenship?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>You might lose your U<br \/> citizenship in specific cases, including if you: Run for public office in a foreign country (under certain conditions) Enter military service in a foreign country (under certain conditions) Apply for citizenship in a foreign country with the intention of giving up U<br \/> citizenship.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-long-can-a-us-citizen-stay-outside-the-us\"><\/span>How long can a U.S. citizen stay outside the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>International Travel U<br \/> immigration law assumes that a person admitted to the United States as an immigrant will live in the United States permanently. Remaining outside the United States for more than one year may result in a loss of Lawful Permanent Resident status.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"do-i-have-to-pay-taxes-if-i-live-outside-the-us\"><\/span>Do I have to pay taxes if I live outside the US?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Do I still need to file a U<br \/> tax return? Yes, if you are a U<br \/> citizen or a resident alien living outside the United States, your worldwide income is subject to U<br \/> income tax, regardless of where you live.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"what-happens-if-you-stay-outside-the-us-longer-than-6-months\"><\/span>What happens if you stay outside the US longer than 6 months?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If you are abroad for 6 months or more per year, you risk \u201cabandoning\u201d your green card. This is especially true after multiple prolonged absences or after a prior warning by a CBP officer at the airport.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"how-long-can-a-us-citizen-stay-out-of-the-country-2021\"><\/span>How long can a U.S. citizen stay out of the country 2021?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A US citizen may remain outside the USA forever if he\/she so wishes and will never lose his\/her US citizenship. All that citizen will need to do is walk into a US embassy every 10 years and simply apply for the renewal of his\/her US passport.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"when-can-i-return-to-the-us-after-6-months-stay\"><\/span>When can I return to the US after 6 months stay?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Maximum Period of Authorized Stay Therefore, a person who stays for six months and, instead of applying to extend their visit inside the U<br \/> if they are a visa holder or a Canadian, departs and attempts to return to the U<br \/> in less than six months from the departure date, will be barred from re-entry for six months.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"can-i-apply-for-us-citizenship-while-abroad\"><\/span>Can I apply for U.S. citizenship while abroad?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To qualify for citizenship, generally applicants must demonstrate they have continuously resided in the United States for at least 5 years before submitting Form N-400, Application for Naturalization. This means you must be residing exclusively in the United States \u2013 not in any other country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It uses Bermuda as a tax haven. It would have paid $3.6 billion for taxes if tax haven benefits were not used. This implies Nike pays a mere 1.4&#37; tax rate to foreign governments on those offshore profits, indicating that nearly all of the money is officially held by subsidiaries in tax havens. How does [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How bermuda tax shelter works - Trending Simple<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trendingsimple.com\/bermuda\/bermuda-tax-shelter-works\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How bermuda tax shelter works - Trending Simple\" \/>\n<meta property=\"og:description\" content=\"It uses Bermuda as a tax haven. It would have paid $3.6 billion for taxes if tax haven benefits were not used. This implies Nike pays a mere 1.4&#037; tax rate to foreign governments on those offshore profits, indicating that nearly all of the money is officially held by subsidiaries in tax havens. 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