The State of Tax Justice 2020 - Tax Justice in the Time of Covid

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The State of Tax Justice Report provides evidence that the world is losing a staggering amount of tax – hundreds of billions (USD) a year - to international tax abuse. Of the tax lost, well over half is due to multinational corporations shifting profit into tax havens in order to underreport how much profit they actually made in the countries where they do business and consequently pay less tax than they should. The remaining billions is lost to wealthy individuals hiding undeclared assets and incomes offshore, beyond the reach of the law.

The State of Tax Justice 2020 breaks from previous studies on global corporate tax abuse by being the first study to use the OECD’s recently published aggregate country by country reporting data to estimate corporate tax losses for all countries. After nearly two decades of campaigning by the Tax Justice Network, the OECD (an intergovernmental body of rich countries and a leading rules-setter on international tax) finally released game-changing transparency data in July 2020 on multinational corporations’ financial affairs, making it possible to expose each country’s tax losses with unprecedented accuracy.