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Comparative Analysis of Tax Regimes of International Financial Centers

Student: Karavaeva Alina

Supervisor: Vladimir Tiutiuriukov

Faculty: Faculty of Social Sciences

Educational Programme: Public Administration (Bachelor)

Final Grade: 10

Year of Graduation: 2020

One of the criteria when choosing location for a business is the system and procedures for taxing financial transactions. In order to attract firms and investment, a country may consider establishing an international financial center (IFC) with benefits, such as various tax rates and tax bases. Although the tax regimes of the IFCs differ, in some cases they are more attractive in relation to the national regimes. The purpose of this paper is to compare different taxing strategies employed by various states and the respective IFCs in order to evaluate the importance of tax benefits in attracting investment compared to the other factors determined by the Z/Yen Partners in the Global Financial Centers Index. Finally, the implications for future research and the relevance of a set of recommendations with application to the Russian environment to improve the management of IFCs are discussed. Keywords: international financial center, tax system, comparative analysis, tax benefits, regional investment attractiveness.

Full text (added May 17, 2020)

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