Almost $500bn 'lost to tax abuse by firms and super-rich in 2021'

[BeckyDem]

Mon 15 Nov 2021 19.01 EST

Larry Elliott- Economics editor

Countries are losing almost half a trillion dollars through tax abuse by multinationals and the super-rich, enough to fully vaccinate the global population against Covid-19 three times over, a report has said.

excerpt:
According to the annual snapshot, the tax revenues lost by lower-income countries would be enough to vaccinate 60% of their populations, bridging the gap in vaccination rates between poor countries and wealthier western nations.

However, it found rich countries were responsible for facilitating 78% of global tax losses, and called on responsibility for setting international tax rules to be moved from the Organisation for Economic Co-operation and Development (OECD) – a club of 38 wealthy nations – to the UN.

https://www.theguardian.com/world/2021/nov/16/almost-500bn-lost-to-tax-abuse-by-firms-and-super-rich-in-2021


( The greed is good crowd needs to lose their grip on representation. )

[FailureToCommunicate]

1. WTF??? This report sure needs more visibility, not that it is a surprise.

Lose of $500 Billion by tax cheats..."enough to fully vaccinate the global population against Covid-19 THREE times over."

[BeckyDem]

2. I know, I had a similar reaction. It really is that bad.