Tax Justice Network identifies UK territories as top corporate tax havens, costing countries $84bn annually.

The Tax Justice Network (TJN) has identified the British Virgin Islands, Cayman Islands, and Bermuda as leading enablers of corporate tax abuse, costing countries $84 billion annually in lost tax revenue. The UK and its territories rank highest in the Corporate Tax Haven Index. While the UK claims compliance with the Common Reporting Standard, TJN argues it fails to effectively combat tax evasion. The UN has proposed a universal tax accord, gaining support from 110 member states.

October 17, 2024
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