Abstract:
In recent years, offshore finance phenomenon began to reach an increasing scale. Having as a starting point evidences of links in tax havens of the companies listed on the Stock Exchange in United States of America, United Kingdom, France and Spain, this paper is an exploratory study that aims to identify the level of tax havens use by Romanian companies listed on the Bucharest Stock Exchange. The study was conducted on a sample of 80 Romanian listed companies in 2013. To achieve the goal we used the companies' annual financial reports for 2013. Within the research, we analysed separately shareholders, subsidiaries and other related parties, and then we compiled this information to reach the expected results. The results show that a number of 29 companies have links in 16 tax havens, among these identifying 38 shareholders, 2 subsidiaries and 40 other related companies in tax havens.
