According to the Tax Justice Network’s 2021 report, OECD countries foster 78% of the annual tax evasion by multinational corporations and wealthy individuals, that being $378 billion of a total of $483 billion in uncollected taxes.
“The UK is by far the world’s greatest enabler of global tax abuse, which it facilitates through a network made up of British Overseas Territories like the Cayman Islands, Crown Dependencies like Jersey and the City of London,” indicate the authors of the report, who attribute 39% of the total estimated tax losses to this European third country. Next come “the Netherlands, Luxembourg, and Switzerland”, which account for 55% of the tax losses among the three of them.
According to the Tax Justice Network, the corporate tax reform agreement approved by the G20 “is expected to recover only a sliver of tax revenues lost to tax havens and will redistribute most recovered taxes to rich OECD members instead of the countries where the taxes should have originally been paid” (see EUROPE 12824/10).
The organisation also laments that, despite this situation, no OECD member countries are on the EU list of tax havens (see EUROPE 12805/4).
For more information: https://bit.ly/3Dqwafu (Original version in French by Mathieu Bion)