1 week Global tax evasion costs $427B/yr – group Manilatimes |Biz
PARIS: Tax evasion is costing the world about $427 billion (362 billion euros) per year with cash funneled via murky tax havens, according to data published Friday by the Tax Justice Network. The TJN said in a statement that it has sifted through records worldwide in the first global study of its kind — and urged global action over shadowy tax havens that have diverted billions of dollars from nations currently fighting the Covid-19 pandemic. The network, which is an umbrella grouping of non-governmental organisations, examined multinationals’ tax declarations and figures gathered by the paris-based Organization for Economic Co-operation ... more