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State of Tax Justice 2024
December 4 , 2024
16 hrs 0 min
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- This report has been released by the Tax Justice Network.
- Countries are losing US$492 billion a year to global tax abuse.
- Nearly half the losses (43%) are enabled by the eight countries such as Australia, Canada, Israel, Japan, New Zealand, South Korea, UK and US.
- Around two-third (US$347.6 billion) of this is lost to multinational corporations shifting profit offshore to underpay tax.
- Remaining one-third (US$144.8 billion) is lost to wealthy individuals hiding their wealth offshore.
- Countries of Global North lose largest amount of tax revenues in absolute terms.
- Countries of Global South endure the deepest losses as a share of their tax revenues.
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