Service zones are also widespread in the world. We refer to them offshore zones (OZs) and tax

Havens (THs). OZs and THs attract businesses by a favourable financial and economic climate, a

Low cost of insurance services, moderate taxes, etc.

At present there are more than 300 offshore centres worldwide, including 70 tax havens. OZs

And THs are set up usually in small countries and territories, e.g., Liechtenstein, Panama, Man

Island (Britain), the Antilles Islands, Hong Kong, Madeira Island, Liberia which operates the

Largest commercial fleet in the world, Ireland, Switzerland, Malta, Samoa Islands, Israel and others.

Industrial, commercial, banking, insurance and other companies are either not liable to taxation

Or pay a small lump sum tax in OZs. The countries attracting businesses enjoy their own

Benefits by creating more jobs and gaining profit from registration fees and using foreign capital.

Terminological Vocabulary to Text 21.4. Try to memorize it

Transnational corporations — транснациональные корпорации

Restrictions — ограничения

Regulation — регулирование

Productive forces — производительные силы

Production — производство

Regionalization — регионализация

Encouragement — поощрение, стимулирование

Bonded warehouses — бондовые склады, таможенные склады для хранения товаров, не

Оплаченных пошлиной