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Tax havens where politicians park their billions

April 8, 2009

San Marino

San Marino is an enclave in central Italy. Although it is not a European Union member, San Marino is allowed to use the euro as its currency

Tourism contributes over 50 per cent of San Marino's GDP. Other key industries are banking, electronics, and ceramics.

San Marino's postage stamps, which are only valid for mail within the country, are mostly sold to philatelists and are a source of income.

Nauru

This island in the South Pacific Ocean lies to the south of the Marshall Islands.

Revenues of this tiny island have traditionally come from exports of phosphates.

Only tax in country is an airport departure tax.

Image: Aprilia 250cc rider Jorge Lorenzo of Spain performs a wheelie after winning the San Marino Grand Prix at Misano. | Photograph: Giampiero Sposito/Reuters

Also read: America's loss is world's gain!
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