Usborne Money Reading for Beginners - Offshore Banking

What is the money that businesses and people pay to governments when they earn their money called?

Offshore tax havens are the places where governments demand max tax.

• True.

• False

Shell companies are the ones that are registered in​ an ​ (a)   ​ but has no ​ (b)   .

• address
• employees
• managers
• guards
• beach

People like Danise in the story can pay ​ (a)   tax if she sets up a ​ (b)   company.

• less
• shell
• small
• more
• big

What are the names of two famous tax havens?

• Phu Quoc Islands

• Cayman Islands

• Channel Islands

• Indonesia

How much do governments worldwide lose in tax each year because of the tax havens?

• $700 billion

• $7000 billion

• $7 billion

• $70000 billion

Banks always public their depositors' identities and money activities.

• True

• False

If governments had ​ (a)   money from tax, they would have ​ (b)   to spend on people in need.

• more
• fewer
• big
• little

If the banks don't check where depositors get their money from, or how they spend their it, it makes it easy for criminals to ... .

What can businesses do when they pay less tax?

• They have more money to invest.

• They can create more jobs.

• They can make the products cheaper.

• All the above answers.