FabSwingers.com forum: We are being mugged

By *ackal1 OP Couple
over a year ago

Manchester

Interesting how the U.K. controls 50% of this top five.

Tax Justice Network reported that $427bn is stolen annually by companies and individuals who avoid paying taxes and called for the G20 to tighten rules. The study published today, (20.11.20) revealed for the first time how much public funding each country loses to global tax abuse and identifies the countries most responsible for others’ losses.

It said that over half the losses ($245bn) came from companies shifting $1.38tn of profits out of the organisation’s member countries to tax havens.

Additionally private individuals paid $182bn less tax by moving over $10trn in financial assets offshore.

The five jurisdictions most responsible for countries’ tax losses are British Territory Cayman (responsible for 16.5% of global tax losses, equal to over $70bn), the UK (10%; over $42bn), the Netherlands (8.5%; over $36bn), Luxembourg (6.5%; over $27bn) and the US (5.53%; over $23bn

By *ackal1 OP Couple
over a year ago

Manchester

Guess I’m in a minority here that thinks this stinks.

If I say Brexit was also backed by Boris mates to keep this status quo that would trigger some interest ha ha .

Either way if you value the NHS or schools or our military you should be concerned .

Such is life in our apathy ridden country