https://taxjustice.net/reports/the-state-of-tax-justice-2024/
Countries are losing US$492 billion in tax a year to multinational corporations and wealthy individuals using tax havens to underpay tax, the 2024 edition of the Tax Justice Network’s State of Tax Justice finds. Nearly half the losses (43%) are enabled by the eight countries that remain, as of writing, opposed to a UN tax convention: Australia, Canada, Israel, Japan, New Zealand, South Korea, the UK and the US.
Surprised to see Canada and NZ on that list. I thought they were pretty progressive.
Being progressive and a tax haven are not mutually exclusive
Weird. Despite the huge growth over the past decades, the social systems mostly became worse. What did they do different in 1990 that they managed to make more oit of the lower economic output?
Two main factors, I’d imagine:
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People living longer (and the care to look after them becoming vastly more expensive, and more and more taken on by the state rather than family as in the past), meaning the ratio of workers to pensioners is getting more and more unsustainable every year.
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Parasitic billionaire/multi-millionaire class siphoning as much money as they can from people, and abusing tax loopholes so they pay very little back to the very system that gave them their wealth in the first place.
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We could also halt the decline in capital flight to tax havens and “allies” bribing our CEOs to relocalize elsewhere. That would help! We could also halt tax avoidance for the 1%. The year where Mærsk had the largest profit in its existence it paid 1,5% effective tax, just to name one!
edit: spelling
More integration between member states would help too.
Aye aye, especially if it would promote everyone in the union to first class citizens.
Bulgaria entered the chat
And Romaniabros.
Never been, but I have plans to visit both.
Paywall? https://archive.is/756vS
