New ranking reveals corporate tax havens behind breakdown of global corporate tax system; toll of UK\u2019s tax war exposed.
\nResearchers call for new tax rules to \u201ctax corporations where employees work, not where ledgers hide\u201d<\/p>\n
Decades of tax wars among the world\u2019s richest countries are unravelling the century-old global corporate tax system, new research finds. Forty per cent of today\u2019s cross-border direct investments reported by the IMF \u2013 $18 trillion in value \u2013 are being booked in just 10 countries that offer corporate tax rates of 3 per cent or less.<\/p>\n
The Corporate Tax Haven Index, published today by the Tax Justice Network, has identified the UK and a handful of OECD countries as the jurisdictions most responsible for the breakdown of the global corporate tax system \u2013 with the UK bearing the lion\u2019s share of responsibility through its controlled network of satellite jurisdictions. These countries have aggressively undermined the ability of governments across the world to meaningfully tax multinational corporations. An estimated $500 billion in corporate tax is dodged each year globally by multinational corporations1 \u2013 enough to pay the UN\u2019s under-funded humanitarian aid budget 20 times over every year…..Taxjustice.net<\/a><\/p>\n Euro Babble<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" New ranking reveals corporate tax havens behind breakdown of global corporate tax system; toll of UK\u2019s tax war exposed. Researchers call for new tax rules to \u201ctax corporations where employees work, not where ledgers hide\u201d Decades of tax wars among … Continue reading ![\"\"](\"https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2019\/05\/L5ynA-kOJ2YVuFXhq8XlJb9zERGbvS9afQcBdQflg1WB8fV85Uk6p0q18tISG2hOr8OX50YZ3ygZ15JhINUtjt_bIao1gFSRlE0VoACton2tAK7z0cy8X-7MbhlY1aBTjKGPLS_f.png\")