Banks open branches in countries where profits are taxed less and their books of accounts are less scrutinized.

Question

Quizplus · Accepted Answer

This is a common strategy used by banks to increase their profits and reduce tax liabilities. By opening branches in countries with lower tax rates and less strict accounting regulations, they can save money and increase their bottom line. However, this can also lead to accusations of tax avoidance and other unethical business practices.

Banks Open Branches in Countries Where Profits Are Taxed Less