Tax abuse by multinational companies and avoidance by rich individuals is costing countries $427bn a year in lost revenues, according to a study by a global advocacy group. The Tax Justice Network said its report revealed for the first time the extent of the resources being lost, and it called on this weekend’s meeting of the G20 group of developed and emerging market countries to tighten the rules. The TJN’s state of tax justice 2020 report says more than half the losses – $245bn – came from companies shifting $1.38tn of profits out of the countries where they were generated into tax havens, where corporate tax rates were low or nonexistent. Private individuals paid $182bn less tax than they should have by storing a total of more than $10tn in financial assets offshore, the report adds. Read more.
You may also like
Education Secretary launches review of children’s social care
Wide-ranging, independent review to address poor outcomes for children in care as well as strengthening families to improve vulnerable children’s lives Share this:Click to share on Twitter (Opens in new window)Click to share on...
January 15, 2021
UK abuse victims given ‘Ani’ code word to ask pharmacists for help
People at risk of domestic violence during lockdown will be able to signal they need to speak in private Read the full article on this link to The Guardian Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens...
January 15, 2021
How the government proposes to reform the Mental Health Act
Tim Spencer-Lane sets out how the law governing compulsory treatment would change under the government’s White Paper to reform the MHA. Read the full article on this link to Community Care Share this:Click to share on Twitter (Opens in new...
January 14, 2021