Tax-Haven Subsidiaries, Categorically Referred to as International Offshore Financial Centers

Tax-haven subsidiaries, categorically referred to as International Offshore Financial Centers, have the following characteristics EXCEPT

A) a low tax on foreign investment or sales income earned by resident corporations and a low dividend withholding tax on dividends paid to the parent firm.
B) a stable currency to permit easy conversion of funds into and out of the local currency. This requirement can be met by permitting and facilitating the use of Eurocurrencies.
C) a stable government that encourages the establishment of foreign-owned financial and service facilities within its borders.
D) All of the above are tax-haven subsidiary characteristics.